The week’s biggest mover on the weekly Automotive MMI® was the 3-month price of copper, which saw a 4.1 percent decline on the LME to $7,201 per metric ton. This comes on the heels of a 5.1 percent increase the week before. The cash price of primary copper fell 3.2 percent on the LME to $7,235 per metric ton after rising 5.4 percent the week before.
US HDG traded sideways last week.
Closing out the third week of rising prices, the price of US palladium bar increased by 1.6 percent. The price of US platinum bar rose 1.2 percent after falling 1.5 percent during the previous week.
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.