The week’s biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 0.6 percent decline. This comes on the heels of a 0.3 percent increase the week before.
The Chinese low price of 62% Australian iron ore fines remained essentially flat. US shredded scrap prices held steady from the previous week. The week finished with no movement for Chinese H-beam steel.
The price of Chinese aluminum bar did not change since the previous week. European 1050 aluminum remained essentially flat.
The weekly US Rocky Mountain bar fuel surcharge fell 0.1 percent 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. 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.