The week’s biggest mover on the weekly Construction MMI®, US shredded scrap jumped 2.5 percent to close at $404.00 per short ton. The price of Chinese rebar rose 0.5 percent over the past week to CNY 3,790 ($624.27) per metric ton. This was the third week in a row of increasing prices. The Chinese low price of 62% Australian iron ore fines closed at CNY 970.00 ($159.77) per dry metric ton after a flat week. At CNY 3,490 ($574.86) per metric ton, the week finished with no movement for Chinese H-beam steel.
Closing at CNY 14,200 ($2,339) per metric ton, Chinese aluminum bar remained unchanged for the week. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,038 ($2,800) per metric ton.
Following a 0.7 percent drop, the weekly US Gulf Coast bar fuel surcharge finished the week at $0.53 per mile. The weekly US Midwest bar fuel surcharge fell 0.3 percent last week, settling at $0.51 per mile. The weekly US Rocky Mountain bar fuel surcharge traded sideways last week, hovering around $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.