The biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 2.3 percent increase. This comes on the heels of a 1.1 percent decline the week prior.
The price of US shredded scrap rose 0.5 percent after falling 0.8 percent during the previous week. The Chinese low price of 62% Australian iron ore fines stayed essentially flat. Chinese H-beam steel remained essentially flat as well.
Prices for Chinese aluminum bar remained constant, as did prices for European 1050 aluminum.
With a 0.6 percent decrease, the weekly US Midwest bar fuel surcharge closed the week lower. Following a 0.1 percent increase in the week prior, the weekly US Gulf Coast bar fuel surcharge fell 0.6 percent last week. This past week, the weekly US Rocky Mountain bar fuel surcharge kept quiet.
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.