The week’s biggest mover on the weekly Automotive MMI® was the copper cash price, which saw a 6.7 percent increase on the LME to $8,115 per metric ton. This week marked the third in a row of rising prices for the metal.
At $8,100 per metric ton, the 3-month price of copper finished the week 6.4 percent higher on the LME.
Closing out the third week of rising prices, the price of Chinese lead increased by 2 percent. At just below $4 per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since the previous week.
US HDG closed out the week with a 0.4 percent decline.
The price of US palladium bar rose 4.8 percent over the past week to $674.00 per ounce. This was the third week in a row of increasing prices. The price of US platinum bar rose 4.2 percent this week, closing out the third week at $1,644 per ounce.
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.