Construction MMI®: Chinese H-beam Steel Down 1.7%

A 1.7 percent decline in Chinese H-beam steel made it the biggest mover of the week, closing at CNY 3,430 ($567.56) per metric ton on the weekly Construction MMI®. Closing out the third week of declining prices, the price of Chinese rebar dropped by 1.1 percent, finishing at CNY 3,470 ($574.18) per metric ton. The price of US shredded scrap rose 0.5 percent this week, closing out the fifth consecutive week of elevating prices at $418.00 per short ton. Closing at CNY 970.00 ($160.51) per dry metric ton, the Chinese low price of 62% Australian iron ore fines remained unchanged for the week.

At CNY 14,200 ($2,350) per metric ton, the price of Chinese aluminum bar did not change since the previous week. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,064 ($2,808) per metric ton.

With a 1.3 percent decrease, the weekly US Gulf Coast bar fuel surcharge closed the week at $0.53 per mile. Following a 0.5 percent increase in the week prior, the weekly US Midwest bar fuel surcharge fell 0.8 percent last week to $0.51 per mile. The weekly US Rocky Mountain bar fuel surcharge fell 0.6 percent to $0.54 per mile after rising 0.4 percent the week before.

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.