The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 2.8 percent decline to $1,587 per ounce. This comes on the heels of a 3.4 percent increase the week before. The price of US palladium bar fell 0.4 percent to $691.00 per ounce after rising 1.9 percent the week before.
After a 0.4 percent decline, US HDG closed out the week at $780.00 per short ton.
Following a 1.4 percent increase in the week prior, the 3-month price of copper fell 2.3 percent on the LME last week to $7,946 per metric ton. The cash price of primary copper fell 1.4 percent on the LME to $7,985 per metric ton after rising 0.6 percent the week before. Closing at KRW 4,360 ($4.06) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week. The Chinese lead price traded sideways last week, hovering around CNY 14,775 ($2,370) per metric ton.
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.