The week’s biggest mover on the Automotive MMI® was primary copper cash prices, which saw a 2.5 percent increase on the LME to $8,285 per metric ton. This comes on the heels of a 1.2 percent decline the week prior. The LME primary copper 3-month price rose 2.1 percent to $8,200 per metric ton after falling 1.3 percent during the week prior.
The Chinese primary lead price rose 0.3 percent on the SHFE to CNY 15,750 ($2,497) per metric ton after falling 0.6 percent during the week prior. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($3) per kilogram.
The price of US HDG rose 0.6 percent over the past week to $836 per short ton. This was the third week in a row of increasing prices.
The price of US platinum bar dropped 1.9 percent this week, closing out the third consecutive week of falling prices at $1,551 per ounce. The price of US palladium bar fell 0.6 percent to $658.00 per ounce after rising 2.6 percent during the week prior.
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.