Construction MMI®: US Shredded Scrap Falls 3.2% for the Week

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Commodities, Metal Prices, Premium

The week’s biggest mover on the weekly Construction MMI® was the price of US shredded scrap, which saw a 3.2 percent decline to $365.00 per short ton. This comes on the heels of a 0.5 percent increase the week before. Closing at CNY 3,480 ($568.33) per metric ton for the week, Chinese H-beam steel rose by a slight 0.9 percent. In the past week, Chinese rebar saw its price shift up 0.6 percent to CNY 3,570 ($583.03) per metric ton. This past week, the Chinese low price of 62% Australian iron ore fines kept quiet, holding at at CNY 970.00 ($158.41) per dry metric ton.

Chinese aluminum bar remained essentially flat from the previous week at CNY 14,200 ($2,319) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,045 ($2,713) per metric ton.

The weekly US Rocky Mountain bar fuel surcharge declined to $0.54 per mile after drifting 0.4 percent since last week. The weekly US Gulf Coast bar fuel surcharge rose 0.2 percent to $0.53 per mile after falling 0.6 percent during the previous week. The weekly US Midwest bar fuel surcharge remained steady from the previous week at $0.52 per mile.

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.