The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 3.4 percent increase to $1,633 per ounce. This comes on the heels of a 1.6 percent decline the week prior. The price of US palladium bar rose 1.9 percent this week, closing out the third week at $694.00 per ounce.
Following a 1.8 percent increase in the week prior, the price of US HDG fell 0.3 percent last week to $783.00 per short ton.
Closing out the third week of rising prices, the 3-month price of copper increased by 1.4 percent on the LME, landing at $8,130 per metric ton. The cash price of primary copper rose 0.6 percent on the LME over the past week to $8,101 per metric ton. This was the third week in a row of increasing prices. The price of Chinese lead rose 0.2 percent to CNY 14,775 ($2,362) per metric ton after falling 0.8 percent during the previous week. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($4.05) per kilogram.
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.