The biggest mover on MetalMiner’s weekly automotive metals price index was the 3-month price of copper, which saw a 2.2 percent decline on the LME to $7,654 per metric ton. Last week marked the fourth in a row of declining prices for the metal.
The primary copper cash price dropped 2 percent on the LME this week, closing out the third consecutive week of falling prices at $7,660 per metric ton.
The price of US HDG steel rose 1.5 percent after falling 0.3 percent during the previous week.
Following a 0.6 percent increase in the week prior, the price of US platinum bar fell 1.7 percent last week. US palladium bar gained a slight 1.7 percent this past week.
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.