Chinese rebar’s 2.4 percent decline made it this week’s biggest mover on the weekly Construction MMI®. The price of US shredded scrap fell 0.5 percent after rising 2.0 percent the week before. This past week, the Chinese low price of 62% Australian iron ore fines kept quiet. Chinese H-beam steel remained essentially flat from the previous week.
In the past week, European 1050 aluminum saw its price shift up 1.3 percent. Following a steady week, prices for Chinese aluminum bar closed flat.
The weekly US Gulf Coast bar fuel surcharge rose 1.5 percent 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. The weekly US Midwest bar fuel surcharge settled 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.