After falling 4.1 percent, European 1050 aluminum landed hard, making it the week’s biggest mover on the weekly Construction MMI®. The week finished with no movement for Chinese aluminum bar.
US shredded scrap gained a slight 1.7 percent this past week. The Chinese low price of 62% Australian iron ore fines rose 1.0 percent over the past week. Chinese rebar saw its price rise 0.9 percent over the past week. Chinese H-beam steel fell 0.9 percent over the past week.
The weekly US Gulf Coast bar fuel surcharge fell 1.2 percent over the past week. 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 after moving 0.6 percent. The weekly US Midwest bar fuel surcharge declined 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.