After drifting 1.6 percent, European 1050 aluminum dropped to EUR 2,112 ($2,856) per metric ton making it the biggest mover on the weekly Construction MMI® this week. Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,200 ($2,320) per metric ton.
Chinese H-beam steel rose 0.6 percent over the past week to CNY 3,480 ($568.52) per metric ton. The price of US shredded scrap rose 0.6 percent to $356.00 per short ton after falling 0.3 percent during the previous week. This past week, the Chinese low price of 62% Australian iron ore fines kept quiet, holding at at CNY 970.00 ($158.47) per dry metric ton. At CNY 3,480 ($568.52) per metric ton, the week finished with no movement for Chinese rebar.
Closing out the third week of declining prices, the weekly US Gulf Coast bar fuel surcharge dropped by 1.3 percent, finishing at $0.54 per mile. The weekly US Midwest bar fuel surcharge fell 1.2 percent for the week to settle at $0.52 per mile. Following a 0.6 percent drop, the weekly US Rocky Mountain bar fuel surcharge finished the week at $0.54 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.