A 3.0 percent improvement on the weekly Construction MMI® made Chinese H-beam steel the week’s biggest mover. Chinese rebar prices were off slightly, just a few dollars per metric ton from a week ago.
The price of US shredded scrap fell 0.8 percent after rising 0.3 percent the week before. The Chinese low price of 62% Australian iron ore fines remained steady from the previous week.
The price of Chinese aluminum bar increased by a slight 1.1 percent over the past week. The price of European 1050 aluminum declined 0.2 percent over the past week.
Closing out the third week of rising prices, the weekly US Rocky Mountain bar fuel surcharge increased by 2.4 percent. The weekly US Gulf Coast bar fuel surcharge rose 0.1 percent over the past week. This was the third week in a row of increasing prices. The weekly US Midwest bar fuel surcharge remained unchanged for the 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.