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. The Chinese lead price rose 0.5 percent this week, closing out the third week at CNY 13,900 ($2,266) per metric ton. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3.87) per kilogram.
US HDG traded sideways last week, hovering around $730.00 per short ton.
Closing out the third week of rising prices, the price of US palladium bar increased by 1.6 percent, landing at $756.00 per ounce. The price of US platinum bar rose 1.2 percent to $1,483 per ounce 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.