The week’s biggest mover on the weekly Automotive MMI® was US palladium bar, which saw a 6.9 percent decline to $571.00 per ounce. For the third week in a row, the price of US platinum bar dropped, falling 4.1 percent to $1,392 per ounce.
The price of US HDG fell 2.2 percent over the past week as well. This was the third week in a row of declining prices despite a still-growing aluminum sector when compared to last year.
The copper 3-month price fell 2.9 percent on the LME to $7,335 per metric ton after rising 1.9 percent the week before. Following a 2.3 percent increase in the week prior, the primary copper cash price fell 2.8 percent on the LME last week to $7,353 per metric ton. The Chinese lead price closed down last week with a 2.5 percent drop. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week.
Note: The MetalMiner monthly MMI series will be first released on July 2, via MetalMiner IndX and subsequently over the course of the week of July 2.
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.