Automotive MMI®: US Platinum Bar Closes Week With 3% Increase
The week’s biggest mover on MetalMiner’s Automotive MMI®, US platinum bar, jumped 3.1 percent to close at $1,479 per ounce. In the past week, US palladium bar saw its price shift up 0.3 percent to $624.00 per ounce.
As far as steel inputs go, for the third week in a row, the price of US HDG steel dropped, falling 1.8 percent.
Copper prices were up, while lead prices fell.
The copper 3-month price rose 0.7 percent on the LME to $7,415 per metric ton after falling 4.1 percent during the previous week. The primary copper cash price rose 0.5 percent on the LME to $7,397 per metric ton after falling 4.2 percent during the previous week.
The Chinese price of lead closed the week with a 0.3 percent decrease. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat.
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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