The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 4.3 percent decline to $719.00 per ounce. Last week marked the fourth in a row of declining prices for the metal. The price of US platinum bar declined 0.5 percent over the past week, settling at $1,525 per ounce.
After a 1.2 percent decline, US HDG closed out the week at $743.00 per short ton.
The cash price of primary copper rose 1.9 percent on the LME to $7,547 per metric ton after falling 2.6 percent during the previous week. The 3-month price of copper rose 1.9 percent on the LME to $7,575 per metric ton after falling 1.8 percent during the previous week. The price of Chinese lead rose 0.5 percent to CNY 14,350 ($2,316) per metric ton after falling 1.2 percent during the previous week. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($3.84) 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.