Source: Jeff Yoders/MetalMiner.
Rebar was at the center of the construction procurement universe this week as the Commerce Department and the US International Trade Administration slapped preliminary duties on imports of Mexican and Turkish rebar, some beginning immediately and some retroactively extending back to January. A final decision on the rebar duties is expected by July.
The week’s biggest mover, not surprisingly, on the weekly Construction MMI® was the price of Chinese rebar, which saw a 1.4 percent decline to CNY 3,420 ($548.97) per metric ton. This comes on the heels of a 3 percent increase the week before. The Chinese low price of 62% Australian iron ore fines traded sideways last week, hovering around CNY 970.00 ($155.70) per dry metric ton. Following a steady week, prices for US shredded scrap closed flat at $396.00 per short ton. At CNY 3,300 ($529.71) per metric ton, the week finished with no movement for Chinese H-beam steel.
Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,279) per metric ton. At EUR 2,052 ($2,825) per metric ton, the price of European 1050 aluminum did not change since the previous week.
US bar fuel surcharges for the Midwest, Gulf Coast and Rocky Mountain regions will be reported next week.
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