Chinese rebar improved by 3.9 percent, reaching CNY 3,710 ($609.00) per metric ton on the weekly Construction MMI®. Over the past week, US shredded scrap rose 3.1 percent to $369.00 per short ton. Following a 1.2 percent increase, Chinese H-beam steel finished the week at CNY 3,470 ($569.61) per metric ton. The Chinese low price of 62% Australian iron ore fines traded sideways last week, hovering around CNY 970.00 ($159.23) per dry metric ton.
Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,200 ($2,331) per metric ton. European 1050 aluminum remained essentially flat from the previous week at EUR 2,079 ($2,810) per metric ton.
Closing at $0.51 per mile, the weekly US Midwest bar fuel surcharge remained unchanged for the week. The weekly US Rocky Mountain bar fuel surcharge remained steady from the previous week at $0.53 per mile. This past week, the weekly US Gulf Coast bar fuel surcharge kept quiet, holding at at $0.52 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.