The week’s 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 to CNY 14,550 ($2,342) per metric ton. This was the third week in a row of declining prices. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($3.91) per kilogram.
In the past week, US HDG saw its price shift up 0.9 percent to $760.00 per short ton.
The price of US palladium bar fell 1.6 percent to $758.00 per ounce 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 to $1,575 per ounce.
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.