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. Last week marked the fourth in a row of declining prices for the metal.
The price of Chinese lead fell one percent over the past week. This was the third week in a row of declining prices.
Meanwhile, copper prices dropped as well.
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 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 $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.