The week’s biggest mover on the weekly Automotive MMI® was the copper cash price, which saw a 6.6 percent increase on the LME to $7,325 per metric ton. This comes on the heels of a 0.9 percent decline the week prior. The copper 3-month price rose 6.5 percent on the LME to $7,355 per metric ton after falling 1.0 percent during the previous week. At KRW 4,360 ($4.03) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet. The Chinese lead price stayed essentially flat at CNY 13,850 ($2,257) per metric ton.
US HDG remained essentially flat from the previous week at $706.00 per short ton.
Closing out the third week of rising prices, the price of US platinum bar increased by 1.8 percent, landing at $1,499 per ounce. The price of US palladium bar rose 1.0 percent this week, closing out the third week at $693.00 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.