The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 3.0 percent increase to $747.00 per ounce. This week marked the third in a row of rising prices for the metal. Prices for US platinum bar remained constant, closing the week at $1,549 per ounce.
The price of US HDG declined 0.9 percent over the past week, settling at $757.00 per short ton.
Last week, the Chinese lead price increased by a slight 1.5 percent to CNY 15,000 ($2,411) per metric ton. The primary copper cash price rose 0.8 percent on the LME over the past week to $8,214 per metric ton. This was the fourth week in a row of increasing prices. The 3-month price of copper increased 0.7 percent on the LME this week, closing out the fourth consecutive week of rising prices at $8,175 per metric ton. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($4.01) 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.