After drifting 4.7 percent on the LME, the price of primary cash copper dropped to $7,710 per metric ton making it the biggest mover on the Automotive MMI® this week.
The 3-month price of primary copper finished at $7,660 per metric ton on the LME after falling 3.9 percent. Since last week, the price of Chinese primary lead fell 1.3 percent. The week finished with no movement for Korean 5052 coil premium over 1050 sheet.
For the third week in a row, the price of US HDG dropped, falling 0.4 percent.
The price of US platinum bar dropped 2.8 percent this week, closing out the third consecutive week of falling prices at $1,453 per ounce. US palladium bar prices were off slightly at $603.00 per ounce, down from $612.00 a week ago.
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.