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.
The price of US HDG rose 0.6 percent over the past week, which 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.