Construction MMI®: Chinese Rebar Down for Third Straight Week

The week’s biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 2.5 percent decline to CNY 3,510 ($579.95) per metric ton. This week marked the third in a row of declining prices for the metal. The price of US shredded scrap rose 1.5 percent to $416.00 per short ton after falling 0.5 percent during the previous week. Closing at CNY 970.00 ($160.27) per dry metric ton, the Chinese low price of 62% Australian iron ore fines remained unchanged for the week. At CNY 3,490 ($576.65) per metric ton, the price of Chinese H-beam steel did not change since the previous week.

Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,346) per metric ton. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,064 ($2,821) per metric ton.

Last week, the weekly US Midwest bar fuel surcharge shifted slightly, rising by 0.5 percent to close at $0.52 per mile. The weekly US Rocky Mountain bar fuel surcharge settled at $0.54 per mile this week after shifting up 0.4 percent. This past week, the weekly US Gulf Coast bar fuel surcharge kept quiet, holding at at $0.54 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.