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.
The price of US HDG fell 0.5 percent over the past week to $798 per short ton. This was the third week in a row of declining prices.
Closing out the third week of declining prices, the cash price of primary copper dropped by 1.2 percent on the LME, 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 at CNY 15,250 ($2,403) per metric ton. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($3) 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.