The week’s biggest mover on the weekly Automotive MMI® was the cash price of primary copper, which saw a 4.0 percent increase on the LME to $8,112 per metric ton. This comes on the heels of a 2.3 percent decline the week prior. The copper 3-month price rose 3.9 percent on the LME to $8,084 per metric ton after falling 2.1 percent during the previous week. At KRW 4,360 ($4.10) per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since the previous week. Following a steady week, prices for the price of Chinese lead closed flat at CNY 14,775 ($2,370) per metric ton.
US HDG prices held steady from the previous week at $780.00 per short ton.
The price of US palladium bar rose 2.0 percent to $704.00 per ounce after falling 0.1 percent during the previous week. At $1,549 per ounce, the week finished with no movement for US platinum bar.
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.