Construction MMI®: Us Shredded Scrap Finishes Week 2.2% Down
The week’s biggest mover on the weekly Construction MMI® was US shredded scrap, which saw a 2.2 percent decline to $355.00 per short ton. Chinese rebar prices were off slightly at CNY 3,480 ($568.57) per metric ton, down from CNY 3,520 ($575.14) a week ago. The Chinese low price of 62% Australian iron ore fines remained steady from the previous week at CNY 970.00 ($158.48) per dry metric ton. Chinese H-beam steel traded sideways last week, hovering around CNY 3,460 ($565.30) per metric ton.
At CNY 14,200 ($2,320) per metric ton, the price of Chinese aluminum bar did not change since the previous week. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,147 ($2,859) per metric ton.
The weekly US Midwest bar fuel surcharge fell 0.3 percent for the week to settle at $0.54 per mile. The weekly US Rocky Mountain bar fuel surcharge rose 0.3 percent to $0.55 per mile after falling 0.1 percent during the previous week. The weekly US Gulf Coast bar fuel surcharge fell 0.3 percent last week, settling at $0.55 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.