The week’s biggest mover on the Automotive MMI® was the price of US platinum bar, which saw a 1.9 percent decline to $1,398 per ounce. Last week marked the fourth in a row of declining prices for the metal. The price of US palladium bar rose 1.2 percent to $602.00 per ounce after falling 1.3 percent during the previous week.
Meanwhile, the price of US HDG fell 0.5 percent over the past week. This was the third week in a row of declining prices.
Closing out the third week of declining prices, the LME cash price of primary copper dropped by 1.2 percent, finishing at $7,540 per metric ton. For the third week in a row, the 3-month price of copper dropped, falling 0.6 percent on the LME to $7,545 per metric ton.
The Chinese lead price dropped 0.3 percent this week, closing out the third consecutive week of falling prices, while prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week under $5 per kilogram.
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.