The metal price drops on this week’s Automotive MMI® reflected the souring news in the non-North-American automotive sector – several reports cited dropping auto demand in China and India, and we all know the European car market’s dire situation.
(Some are saying that “it could be 2018 before the [EU car] industry claws its way back to its regular pre-crisis levels” of 16 million-17 million-plus annual car sales.)
The week’s biggest mover on MetalMiner’s automotive metals index was the copper 3-month price, which saw a 1.9 percent decline on the LME to $8,127 per metric ton. This comes on the heels of a 1.9 percent increase the week before.
Following a 1.8 percent increase in the week prior, the cash price of primary copper fell 1.8 percent on the LME last week to $8,124 per metric ton.
Meanwhile, the price of Chinese lead fell 0.8 percent after rising 0.2 percent the week before. The price of Korean 5052 coil premium over 1050 sheet did not change since the previous week. US HDG prices, however, fell 1.6 percent over the past week, 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 0.9 percent. The price of US palladium bar fell 0.8 percent after rising 3.8 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.
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