The monthly Automotive MMI® registered a value of 98 in June, a decrease of 6.7 percent from 105 in May.
The Automotive MMI® has held up strongly through May 1, but fell 2 percent below the January baseline value during the past 30 days. The Automotive MMI® baseline began on Jan. 1, 2012, with a reading of 100. This report serves as the first public release of this data.
Source: MetalMiner IndX℠
For commentary and drivers of the index, click below.
“For much of this year, the automotive sector has performed extremely well, with a monthly sales pace exceeding 14 million units produced on an annual basis,” said Lisa Reisman, managing editor of MetalMiner. “The decline in the Automotive MMI® this past month is consistent with the slight drop in the May sales rates which put the auto industry on a path to produce 13.8 million cars on an annual basis.”
The Automotive MMI® models the price trends of a variety of metals used within the automotive industry.
Drivers of the Automotive Index Decline
- A 9.6 percent decline for the primary copper cash price on the LME left it at $7,516 per metric ton. Also on the LME, the copper 3-month price fell 9.2 percent to $7,498 per metric ton.
- The price of US palladium bar closed the month at $608.00 per ounce after dropping 6.5 percent. US platinum bar prices dropped by 5.8 percent this month to $1,433 per ounce.
- US HDG prices fell 3.5 percent.
- The price of Chinese lead finished the month with a 3.2 percent fall.
- The Korean 5052 coil premium over 1050 aluminum sheet held steady.
The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends over a 30-day period. MetalMiner will publish the monthly MMI® reports during the first week of the month, every month.
Paid subscribers have access to all the data on the first of the month and can also obtain the actual price points for constituent elements that comprise the Automotive MMI®.
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.