The biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 3.2 percent decline to just below $1,600 per ounce. This week marked the third in a row of declining prices for the metal.
The price of US palladium bar rose 0.4 percent after falling 3.5 percent during the previous week.
The primary copper cash price dropped 2.6 percent on the LME this week, closing out the third consecutive week of falling prices at $7,830 per metric ton. With a 1.8 percent decrease on the LME, the 3-month price of copper closed the week at $7,864 per metric ton.
For the third week in a row, the Chinese lead price dropped, falling 0.2 percent. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week flat.
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.