Closing at EUR 2,147 ($2,832) per metric ton on the weekly Construction MMI®, European 1050 aluminum rose 5.0 percent to finish as the week’s biggest mover. Closing at CNY 14,200 ($2,320) per metric ton, Chinese aluminum bar remained unchanged for the week.
Chinese H-beam steel saw a 0.6 percent decline over the past week to CNY 3,460 ($565.40) per metric ton. US shredded scrap prices were off slightly at $363.00 per short ton, down from $365.00 a week ago. The price of Chinese rebar rose 0.3 percent to CNY 3,540 ($578.48) per metric ton after falling 1.1 percent during the previous week. Following a steady week, prices for the Chinese low price of 62% Australian iron ore fines closed flat at CNY 970.00 ($158.51) per dry metric ton.
The weekly US Gulf Coast bar fuel surcharge spiked 3.1 percent last week to $0.55 per mile. The weekly US Midwest bar fuel surcharge settled at $0.54 per mile this week after shifting up 2.6 percent. The weekly US Rocky Mountain bar fuel surcharge shifted up 0.4 percent to close at $0.55 per mile this 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.