MetalMiner
Monthly Construction MMI Drops to 91
Edited by : AL CIRCLE
2 min read
The monthly Construction MMI registered a value of 91 in July, down two from June’s reading of 93.
Every component within the Construction MMI fell this past month with the exception of two – Chinese aluminum bar and 62% Australian iron ore fines destined for China.
“Nearly all of the components comprising the Construction MMI fell, some only slightly however, which tells us that the global construction industry remains somewhat challenged within the current global economic environment,” said Lisa Reisman Managing Editor of MetalMiner.
Chinese 62% Australian iron ore fines crept up a few dollars per dry metric ton as did Chinese aluminum bar prices. The price of US shredded scrap closed the month down 13 percent. For the second month in a row, the weekly US Midwest bar fuel surcharge declined, falling 9 percent over the past month. The weekly US Gulf Coast bar fuel surcharge fell 10 percent over the past month, the second straight month of declines. The weekly US Rocky Mountain bar fuel surcharge declined 10 percent over the past month. The price of European 1050 aluminum dropped 4.6 percent. The price of Chinese H-beam steel finished the month 1.1 percent lower. This was the second straight month of declines. The price of Chinese rebar fell 0.5 percent.
Every component within the Construction MMI fell this past month with the exception of two – Chinese aluminum bar and 62% Australian iron ore fines destined for China.
“Nearly all of the components comprising the Construction MMI fell, some only slightly however, which tells us that the global construction industry remains somewhat challenged within the current global economic environment,” said Lisa Reisman Managing Editor of MetalMiner.
Chinese 62% Australian iron ore fines crept up a few dollars per dry metric ton as did Chinese aluminum bar prices. The price of US shredded scrap closed the month down 13 percent. For the second month in a row, the weekly US Midwest bar fuel surcharge declined, falling 9 percent over the past month. The weekly US Gulf Coast bar fuel surcharge fell 10 percent over the past month, the second straight month of declines. The weekly US Rocky Mountain bar fuel surcharge declined 10 percent over the past month. The price of European 1050 aluminum dropped 4.6 percent. The price of Chinese H-beam steel finished the month 1.1 percent lower. This was the second straight month of declines. The price of Chinese rebar fell 0.5 percent.
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