The week’s biggest mover on the weekly Construction MMI® was the price of Chinese H-beam steel, which saw a 2.0 percent decline to CNY 3,390 ($557.10) per metric ton. This comes on the heels of a 2.1 percent increase the week before. The Chinese low price of 62% Australian iron ore fines traded sideways last week, hovering around CNY 970.00 ($159.41) per dry metric ton. Closing at $357.00 per short ton, US shredded scrap remained unchanged for the week. Chinese rebar prices held steady from the previous week at CNY 3,480 ($571.89) per metric ton.
Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,200 ($2,334) per metric ton. European 1050 aluminum remained essentially flat from the previous week at EUR 2,112 ($2,888) per metric ton.
The weekly US Midwest bar fuel surcharge declined to $0.51 per mile after drifting 0.7 percent since last week. Since last week, the price of the weekly US Gulf Coast bar fuel surcharge fell to $0.53 per mile after moving 0.6 percent. With a 0.4 percent decrease, the weekly US Rocky Mountain bar fuel surcharge closed the week at $0.53 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.