The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 4.6 percent increase to $725.00 per ounce. This week marked the third in a row of rising prices for the metal. Following a 1.8 percent increase in the week prior, the price of US platinum bar fell 0.7 percent last week to $1,488 per ounce.
US HDG gained a slight 2.3 percent this past week, finishing at $722.00 per short ton.
The primary copper cash price fell 3.1 percent on the LME to $7,095 per metric ton after rising 6.6 percent the week before. Following a 6.5 percent increase in the week prior, the 3-month price of copper fell 2.9 percent on the LME last week to $7,140 per metric ton. Following a 0.4 percent drop, the Chinese lead price finished the week at CNY 13,800 ($2,245) per metric ton. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($3.91) 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.