After falling 4.1 percent, European 1050 aluminum landed at EUR 2,050 ($2,673) per metric ton and making it the week’s biggest mover on the weekly Construction MMI®. At CNY 14,050 ($2,290) per metric ton, the week finished with no movement for Chinese aluminum bar.
US shredded scrap gained a slight 1.7 percent this past week, finishing at $364.00 per short ton. The Chinese low price of 62% Australian iron ore fines rose 1.0 percent over the past week to CNY 970.00 ($158.11) per dry metric ton. Chinese rebar saw its price rise 0.9 percent over the past week to CNY 3,310 ($539.53) per metric ton. Chinese H-beam steel fell 0.9 percent over the past week to CNY 3,300 ($537.90) per metric ton.
The weekly US Gulf Coast bar fuel surcharge fell 1.2 percent over the past week to $0.52 per mile. This was the fourth week in a row of declining prices. Since last week, the price of the weekly US Rocky Mountain bar fuel surcharge fell to $0.52 per mile after moving 0.6 percent. The weekly US Midwest bar fuel surcharge declined to $0.50 per mile after drifting 0.2 percent since last week.
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.