The biggest mover on the weekly Automotive MMI® was the cash price of primary copper, which saw a 2.6 percent decline on the LME to $7,574 per metric ton. This comes on the heels of a 1.0 percent increase the week before.
Following a 1.0 percent increase in the week prior, the copper 3-month price fell 2.6 percent on the LME last week to $7,604 per metric ton.
The Chinese lead price fell 0.3 percent over the past week. This was the third week in a row of declining prices. Prices for Korean 5052 coil premium over 1050 sheet remained constant.
The price of US palladium bar fell 1.6 percent after rising 3.4 percent the week before. Following a 0.1 percent increase in the week prior, the price of US platinum bar fell 0.8 percent last week.
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.