The week’s biggest mover on the weekly Construction MMI® was the price of US shredded scrap, which saw a 4.3 percent increase to $385.00 per short ton. This week marked the third in a row of rising prices for the metal. At CNY 3,490 ($572.73) per metric ton, the price of Chinese H-beam steel finished the week 0.6 percent higher. The price of Chinese rebar rose 0.3 percent over the past week to CNY 3,720 ($610.47) per metric ton. This was the third week in a row of increasing prices. The Chinese low price of 62% Australian iron ore fines traded sideways last week, hovering around CNY 970.00 ($159.18) per dry metric ton.
At CNY 14,200 ($2,330) per metric ton, the price of Chinese aluminum bar did not change since the previous week. Closing at EUR 2,079 ($2,810) per metric ton, European 1050 aluminum remained unchanged for the week.
With a 1.2 percent decrease, the weekly US Gulf Coast bar fuel surcharge closed the week at $0.52 per mile. The weekly US Midwest bar fuel surcharge fell 0.9 percent last week, settling at $0.51 per mile. The weekly US Rocky Mountain bar fuel surcharge declined to $0.53 per mile after drifting 0.8 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.