The week’s biggest mover on the weekly Automotive MMI® was the copper cash price, which saw a 5.4 percent increase on the LME to $7,475 per metric ton. This comes on the heels of a 3.1 percent decline the week prior. The 3-month price of copper rose 5.1 percent on the LME to $7,505 per metric ton after falling 2.9 percent during the previous week. The Chinese lead price rose 0.2 percent to CNY 13,825 ($2,254) per metric ton after falling 0.4 percent during the previous week. At KRW 4,360 ($3.91) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet.
US HDG gained a slight 1.1 percent this past week, finishing at $730.00 per short ton.
The price of US palladium bar increased by a slight 2.6 percent over the past week to $744.00 per ounce. The price of US platinum bar dropped 1.5 percent this week, closing out the third consecutive week of falling prices at $1,465 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.