The week’s biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 0.6 percent decline to CNY 3,520 ($575.14) per metric ton. This comes on the heels of a 0.3 percent increase the week before. At CNY 970.00 ($158.49) per dry metric ton, the Chinese low price of 62% Australian iron ore fines remained essentially flat. US shredded scrap prices held steady from the previous week at $363.00 per short ton. At CNY 3,460 ($565.34) per metric ton, the week finished with no movement for Chinese H-beam steel.
At CNY 14,200 ($2,320) per metric ton, the price of Chinese aluminum bar did not change since the previous week. European 1050 aluminum remained essentially flat from the previous week at EUR 2,147 ($2,828) per metric ton.
The weekly US Rocky Mountain bar fuel surcharge fell 0.1 percent to $0.54 per mile after rising 0.4 percent the week before. Following a 3.1 percent increase in the week prior, the weekly US Gulf Coast bar fuel surcharge fell 0.1 percent last week to $0.55 per mile. Closing at $0.54 per mile, 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.