The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 1.1 percent increase to $766.00 per ounce. This comes on the heels of a 1.6 percent decline the week prior. The price of US platinum bar rose 0.3 percent to $1,579 per ounce after falling 0.8 percent during the previous week.
At $760.00 per short ton, the price of US HDG did not change since the previous week.
The Chinese lead price dropped 0.7 percent this week, closing out the third consecutive week of falling prices at CNY 14,450 ($2,325) per metric ton. Closing out the third week of declining prices, the 3-month price of copper dropped by 0.5 percent on the LME, finishing at $7,570 per metric ton. The primary copper cash price rose 0.3 percent on the LME to $7,600 per metric ton after falling 2.6 percent during the previous week. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($3.92) 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.