Automotive MMI®: US HDG Steel Down For Third Straight Week

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Automotive MMI® prices dropped the week of May 21, 2012. The week’s biggest mover on the Automotive MMI® was the price of US HDG, which saw a 2.3 percent decline to $802 per short ton. Last week marked the fourth in a row of declining prices for the metal.

Closing out the third week of declining prices, the cash price of primary copper dropped by one percent on the LME, finishing at $7,630 per metric ton. The price of Chinese lead fell one percent over the past week to CNY 15,300 ($2,417) per metric ton. This was the third week in a row of declining prices. The 3-month price of copper dropped 0.9 percent on the LME this week, closing out the third consecutive week of falling prices at $7,590 per metric ton. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($3) per kilogram.

At $1,425 per ounce, the price of US platinum bar finished the week down 1.9 percent. For the third week in a row, the price of US palladium bar dropped, falling 1.3 percent to $595.00 per ounce.

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.

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