MetalMiner's Weekly Automotive Index Shows Platinum, Copper Prices Rises
With both US and UK car markets remaining healthy, the week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 5.7 percent increase to $1,471 per ounce.
This comes on the heels of a 4.1 percent decline the week prior.
The price of US palladium bar also rose 2.8 percent to $587.00 per ounce, after falling 6.9 percent during the previous week.
US HDG prices, meanwhile, fell 0.3 percent over the past week. This was the third week in a row of declining prices.
The LME copper 3-month price rose 4.9 percent to $7,695 per metric ton after falling 2.9 percent during the previous week. The primary copper cash price rose 4.8 percent on the LME to $7,705 per metric ton after falling 2.8 percent during the previous week.
The price of Chinese lead rose 1.9 percent after falling 2.5 percent during the previous week, and Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week.
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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