Closing at EUR 2,038 ($2,766) per metric ton on the weekly Construction MMI®, European 1050 aluminum finished as the week’s biggest mover with a 2.0 percent decline. At CNY 14,200 ($2,331) per metric ton, the week finished with no movement for Chinese aluminum bar.
The price of Chinese rebar rose 1.3 percent to CNY 3,760 ($617.14) per metric ton after falling 0.3 percent during the previous week. The Chinese low price of 62% Australian iron ore fines stayed essentially flat at CNY 970.00 ($159.21) per dry metric ton. US shredded scrap traded sideways last week, hovering around $385.00 per short ton. At CNY 3,490 ($572.83) per metric ton, the price of Chinese H-beam steel did not change since the previous week.
The weekly US Gulf Coast bar fuel surcharge ticked up 1.9 percent over the past week to $0.53 per mile. Last week, the weekly US Midwest bar fuel surcharge shifted slightly, rising by 1.1 percent to close at $0.51 per mile. The weekly US Rocky Mountain bar fuel surcharge rose 0.8 percent over the past week to $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.