Construction MMI®: 0.3% Gain for Us Shredded Scrap

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Commodities, Metal Prices, Premium

US shredded scrap improved by 0.3 percent, reaching $357.00 per short ton on the weekly Construction MMI®. The Chinese low price of 62% Australian iron ore fines traded sideways last week, hovering around CNY 970.00 ($158.49) per dry metric ton. Prices for Chinese H-beam steel remained constant, closing the week at CNY 3,480 ($568.59) per metric ton. At CNY 3,480 ($568.59) per metric ton, the week finished with no movement for Chinese rebar.

Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,320) per metric ton. European 1050 aluminum remained essentially flat from the previous week at EUR 2,112 ($2,877) per metric ton.

The weekly US Midwest bar fuel surcharge closed at $0.52 per mile after a flat week. Following a steady week, prices for the weekly US Rocky Mountain bar fuel surcharge closed flat at $0.54 per mile. At $0.54 per mile, the weekly US Gulf Coast bar fuel surcharge remained essentially flat.

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.

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