The week’s biggest mover on the weekly Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 1.1 percent increase to CNY 960.00 ($156.24) per dry metric ton. Chinese rebar rose 0.3 percent over the past week to CNY 3,280 ($533.82) per metric ton. Following a steady week, prices for US shredded scrap closed flat at $358.00 per short ton. Chinese H-beam steel remained essentially flat from the previous week at CNY 3,330 ($541.95) per metric ton.
Chinese aluminum bar traded sideways last week, hovering around CNY 14,050 ($2,287) per metric ton. At EUR 2,138 ($2,789) per metric ton, the price of European 1050 aluminum did not change since the previous week.
The weekly US Rocky Mountain bar fuel surcharge declined to $0.53 per mile after drifting 0.5 percent since last week. For the third week in a row, the weekly US Gulf Coast bar fuel surcharge dropped, falling 0.5 percent to $0.53 per mile. At $0.51 per mile, the weekly US Midwest bar fuel surcharge remained essentially flat.
The Construction MMI® collects and weights 9 metal price points used within the construction industry to provide a unique view into construction industry price trends. For more information on the Construction MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.