The monthly Construction MMI® registered a value of 85 in July, a decrease of 2.3 percent from 87 in June.
After dropping the previous month, the Chinese low price of 62% Australian iron ore fines prices rose 4.9 percent to $157.93 per dry metric ton. The price of Chinese rebar rose 0.9 percent to $535.67 per metric ton after falling the previous month.
A 5.4 percent drop over the past month left Chinese H-beam steel at $537.30 per metric ton. After falling 4.1 percent, European 1050 aluminum finished the month at $2,667 per metric ton. The weekly US Gulf Coast bar fuel surcharge declined 3.2 percent over the month to $0.52 per mile. The weekly US Rocky Mountain bar fuel surcharge fell a slight 1.8 percent over the past month to $0.52 per mile. The weekly US Midwest bar fuel surcharge ended the month at $0.50 per mile, down from $0.50.
Chinese aluminum bar held pat last month at $2,288 per metric ton. US shredded scrap experienced a flat month, staying around $364.00 per short ton.
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 over a 30-day period. 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.