The week’s biggest mover on the weekly Construction MMI®, US shredded scrap jumped 2.3 percent to close at $394.00 per short ton. Chinese rebar saw its price rise 0.3 percent over the past week to CNY 3,770 ($620.93) per metric ton. At CNY 970.00 ($159.76) per dry metric ton, the Chinese low price of 62% Australian iron ore fines remained essentially flat. Closing at CNY 3,490 ($574.81) per metric ton, Chinese H-beam steel remained unchanged for the week.
Chinese aluminum bar remained essentially flat from the previous week at CNY 14,200 ($2,339) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,038 ($2,800) per metric ton.
The weekly US Gulf Coast bar fuel surcharge fell 0.3 percent to $0.53 per mile after rising 1.9 percent the week before. Following a 1.1 percent increase in the week prior, the weekly US Midwest bar fuel surcharge fell 0.3 percent last week to $0.51 per mile. The weekly US Rocky Mountain bar fuel surcharge fell 0.3 percent to $0.53 per mile after rising 0.8 percent the week before.
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.