Following a 2.6 percent decline to CNY 3,390 ($555.09) per metric ton, Chinese H-beam steel finished as the week’s biggest mover on the weekly Construction MMI®. Closing at CNY 3,500 ($573.10) per metric ton for the week, Chinese rebar rose by a slight 0.6 percent. The price of US shredded scrap rose 0.3 percent over the past week to $358.00 per short ton. This was the third week in a row of increasing prices. This past week, the Chinese low price of 62% Australian iron ore fines kept quiet, holding at at CNY 970.00 ($158.83) per dry metric ton.
Chinese aluminum bar traded sideways last week, hovering around CNY 14,200 ($2,325) per metric ton. At EUR 2,112 ($2,863) per metric ton, the week finished with no movement for European 1050 aluminum.
Closing at $0.52 per mile, the weekly US Midwest bar fuel surcharge remained unchanged for the week. The weekly US Rocky Mountain bar fuel surcharge stayed essentially flat at $0.54 per mile. The weekly US Gulf Coast bar fuel surcharge remained steady from the previous 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.