The week’s biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 2.9 percent increase to CNY 3,530 ($574.61) per metric ton. This week marked the third in a row of rising prices for the metal. The price of US shredded scrap rose 2.2 percent over the past week to $377.00 per short ton. This was the third week in a row of increasing prices. The Chinese low price of 62% Australian iron ore fines traded sideways last week, hovering around CNY 970.00 ($157.90) per dry metric ton. Chinese H-beam steel traded sideways last week, hovering around CNY 3,350 ($545.31) per metric ton.
Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,287) per metric ton. At EUR 2,050 ($2,704) per metric ton, the week finished with no movement for European 1050 aluminum.
The weekly US bar fuel surcharges will be updated later this morning.
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.