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. 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 to CNY 15,450 ($2,443) per metric ton on the SHFE after moving 1.3 percent. At KRW 4,360 ($3) per kilogram, 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 to $821 per short ton.
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.