Closing at CNY 3,570 ($585.58) per metric ton on the weekly Construction MMI®, Chinese rebar rose 2.6 percent to finish as the week’s biggest mover. The price of Chinese H-beam steel rose 1.2 percent to CNY 3,430 ($562.62) per metric ton after falling 2.0 percent during the previous week. US shredded scrap saw its price rise 0.3 percent over the past week to $358.00 per short ton. The Chinese low price of 62% Australian iron ore fines remained steady from the previous week at CNY 970.00 ($159.11) per dry metric ton.
The price of European 1050 aluminum declined 1.6 percent over the past week, settling at EUR 2,079 ($2,810) per metric ton. Chinese aluminum bar traded sideways last week, hovering around CNY 14,200 ($2,329) per metric ton.
The weekly US Midwest bar fuel surcharge closed last week at $0.51 per mile, after a 0.5 percent drop. The weekly US Gulf Coast bar fuel surcharge saw a 0.4 percent drop this week, closing at $0.52 per mile. The weekly US Rocky Mountain bar fuel surcharge declined to $0.53 per mile after drifting 0.3 percent since last week.
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.