The week’s biggest mover on the weekly Construction MMI® was the price of Chinese H-beam steel, which saw a 2.1 percent increase to CNY 3,460 ($567.84) per metric ton. This comes on the heels of a 2.6 percent decline the week prior. Following a 0.6 percent increase in the week prior, the price of Chinese rebar fell 0.6 percent last week to CNY 3,480 ($571.13) per metric ton. The price of US shredded scrap fell 0.3 percent to $357.00 per short ton after rising 0.3 percent the week before. At CNY 970.00 ($159.19) per dry metric ton, the Chinese low price of 62% Australian iron ore fines remained essentially flat.
Chinese aluminum bar traded sideways last week, hovering around CNY 14,200 ($2,330) per metric ton. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,112 ($2,877) per metric ton.
The weekly US Rocky Mountain bar fuel surcharge declined to $0.53 per mile after drifting 1.9 percent since last week. The weekly US Gulf Coast bar fuel surcharge fell 1.5 percent for the week to settle at $0.53 per mile. The weekly US Midwest bar fuel surcharge closed last week at $0.52 per mile, after a 1.2 percent drop.
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.