The week’s biggest mover on the weekly Automotive MMI® was the copper cash price, which saw a 1.7 percent decline on the LME to $7,699 per metric ton. Last week marked the fourth in a row of declining prices for the metal. The copper 3-month price dropped 1.7 percent on the LME this week, closing out the third consecutive week of falling prices at $7,733 per metric ton. Closing out the third week of declining prices, the price of Chinese lead dropped by 1.2 percent, finishing at CNY 14,650 ($2,355) per metric ton. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($4.02) per kilogram.
At $752.00 per short ton, the price of US HDG finished the week down 0.7 percent.
US platinum bar prices were off slightly at $1,585 per ounce, down from $1,594 a week ago. The price of US palladium bar rose 0.4 percent over the past week to $745.00 per ounce. This was the fifth week in a row of increasing 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.