The monthly Automotive MMI® registered a value of 98 in July, on par with June’s value.
After a 1.5 percent increase, US platinum bar finished the month at $1,419 per ounce. Though US HDG prices slipped this month, copper helped support this month’s index reading.
Source: MetalMiner IndX(SM)
A 6 percent drop over the past month left US HDG as one of the biggest losers within the Automotive MMI®. The price of US palladium bar closed the month at $573.00 per ounce after dropping 4.8 percent.
The Chinese lead price fell 2 percent over the past month the second straight month of declines. The 3-month price of copper increased $87 over the past month to $7,585 per metric ton.
Korean 5052 coil premium over 1050 sheet increased by 3 percent, also lending support to the index.
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. 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.