The week’s biggest mover on the Automotive MMI® was the price of US palladium bar, which saw a 5.8 percent decline to $612.00 per ounce. This week marked the third in a row of declining prices for the platinum group metal (PGM). Closing out the third week of declining prices, the price of US platinum bar dropped by 1.7 percent, finishing at $1,495 per ounce.
Meanwhile, US HDG fell 0.4 percent over the past week.
The LME 3-month price of primary copper fell to $7,970 per metric ton after a 3.5 percent decrease from the previous week. LME Primary copper cash prices were off slightly at $8,089 per metric ton, down from $8,318 a week ago. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week, while the price of Chinese primary lead practically stayed flat on the SHFE at CNY 15,650 ($2,479) per metric ton.
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.