Construction MMI®: Chinese Rebar Falls 2.6% for the Week
The week’s biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 2.6 percent decline to CNY 3,690 ($607.94) per metric ton. This comes on the heels of a 0.5 percent increase the week before. Following a 2.0 percent increase, US shredded scrap finished the week at $412.00 per short ton. The Chinese low price of 62% Australian iron ore fines closed at CNY 970.00 ($159.81) per dry metric ton after a flat week. At CNY 3,490 ($574.99) per metric ton, the price of Chinese H-beam steel did not change since the previous week.
Chinese aluminum bar traded sideways last week, hovering around CNY 14,200 ($2,340) per metric ton. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,038 ($2,800) per metric ton.
The weekly US Midwest bar fuel surcharge rose 0.2 percent to $0.51 per mile after falling 0.3 percent during the previous week. The weekly US Gulf Coast bar fuel surcharge fell 0.2 percent last week, settling at $0.53 per mile. At $0.53 per mile, the weekly US Rocky Mountain bar fuel surcharge remained essentially flat.
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.