The biggest mover on the weekly Automotive MMI® was the 3-month price of copper, which saw a 2.8 percent increase on the LME to $8,330 per metric ton. This week marked the third in a row of rising prices for the metal.
The cash price of primary copper rose 2.6 percent on the LME this week, closing out the third week at $8,322 per metric ton. The Chinese lead price finished the week 1.3 percent higher. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week.
Closing out the third week of declining prices, the price of US HDG dropped by 0.9 percent.
Following a 4.8 percent increase in the week prior, the price of US palladium bar fell 0.6 percent last week. The price of US platinum bar fell 0.4 percent, after rising 4.2 percent the week before.
The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends. For more information on the Automotive MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.