Construction MMI®: Small 2.4% Drift for Chinese Rebar

Chinese rebar’s 2.4 percent decline made it this week’s biggest mover on the weekly Construction MMI®, closing at CNY 3,600 ($593.89) per metric ton. The price of US shredded scrap fell 0.5 percent to $410.00 per short ton after rising 2.0 percent the week before. This past week, the Chinese low price of 62% Australian iron ore fines kept quiet, holding at at CNY 970.00 ($160.02) per dry metric ton. Chinese H-beam steel remained essentially flat from the previous week at CNY 3,490 ($575.74) per metric ton.

In the past week, European 1050 aluminum saw its price shift up 1.3 percent to EUR 2,064 ($2,850) per metric ton. Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,200 ($2,343) per metric ton.

The weekly US Gulf Coast bar fuel surcharge rose 1.5 percent to $0.54 per mile after falling 0.2 percent during the previous week. The weekly US Rocky Mountain bar fuel surcharge rose 1.4 percent over the past week to $0.54 per mile. The weekly US Midwest bar fuel surcharge settled at $0.52 per mile this week after shifting up 0.7 percent.

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.