With the US auto market seeing declining car sales over the past three months or so, and the June sales report soon to come, we’ll have to see how the upcoming monthly Automotive MMI® for July fares.
For this week, however, closing at $7,565 per metric ton on the LME, a 2.3 percent increase made the copper cash price the biggest mover on the weekly Automotive MMI®. Last week, the 3-month price of copper shifted slightly on the LME, rising by 1.9 percent to close at $7,555 per metric ton.
The price of Chinese lead finished the week down 0.2 percent. Korean 5052 coil premium over 1050 aluminum sheet traded sideways last week.
The price of US HDG fell 0.8 percent over the past week, making this the third week in a row of declining prices.
Following a 3.1 percent increase in the week prior, the price of US platinum bar fell 1.9 percent last week to $1,451 per ounce. The price of US palladium bar fell 1.8 percent to $613.00 per ounce after rising 0.3 percent the week before.
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.