The week’s biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 2.5 percent decline. This week marked the third in a row of declining prices for the metal. The price of US shredded scrap rose 1.5 percent after falling 0.5 percent during the previous week. The Chinese low price of 62% Australian iron ore fines remained unchanged for the week. The price of Chinese H-beam steel did not change since the previous week.
Chinese aluminum bar prices held steady from the previous week. Prices for European 1050 aluminum remained constant.
Last week, the weekly US Midwest bar fuel surcharge shifted slightly, rising by 0.5 percent to close. The weekly US Rocky Mountain bar fuel surcharge settled after shifting up 0.4 percent. This past week, the weekly US Gulf Coast bar fuel surcharge kept quiet.
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.