US and Chinese car markets seem quite optimistic for 2013, as news reports suggest China’s auto industry will overtake Europe’s very soon. Meanwhile, US auto manufacturers are shrugging off uncertainty, according to the FT this morning. Check back in next week for MetalMiner’s monthly automotive metals report to see how the past year in auto manufacturing affected metals prices — and what to expect for 2013.
This week, the biggest mover on the weekly Automotive MMI® was the cash price of primary copper, which saw a 4 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.
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.
US HDG steel prices held steady from the previous week.
The price of US palladium bar rose 2 percent after falling 0.1 percent during the previous week. The week finished with no movement for US platinum bar prices.
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.