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 metal. 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.
US HDG steel fell 0.4 percent over the past week to $824 per short ton.
The 3-month price of primary copper fell to $7,970 per metric ton after a 3.5 percent decrease from the previous week. Primary cash copper 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 at KRW 4,360 ($3) per kilogram. The price of Chinese primary lead stayed essentially 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.