The week’s biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 1.1 percent decline to CNY 3,530 ($576.83) per metric ton. This comes on the heels of a 0.6 percent increase the week before. The Chinese low price of 62% Australian iron ore fines stayed essentially flat at CNY 970.00 ($158.51) per dry metric ton. Closing at $365.00 per short ton, US shredded scrap remained unchanged for the week. Prices for Chinese H-beam steel remained constant, closing the week at CNY 3,480 ($568.66) per metric ton.
Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,320) per metric ton. At EUR 2,045 ($2,713) per metric ton, the week finished with no movement for European 1050 aluminum.
The weekly US Gulf Coast bar fuel surcharge settled at $0.53 per mile this week after shifting up 0.6 percent. A 0.3 percent gain landed the weekly US Midwest bar fuel surcharge at $0.52 per mile. The weekly US Rocky Mountain bar fuel surcharge rose 0.3 percent to $0.54 per mile after falling 0.4 percent during the previous 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.