The week’s biggest mover on the weekly Automotive MMI® was the 3-month price of copper, which saw a 3.6 percent increase on the LME to $7,460 per metric ton. This comes on the heels of a 4.1 percent decline the week prior. The cash price of primary copper rose 2.6 percent on the LME to $7,421 per metric ton after falling 3.2 percent during the previous week. The price of Chinese lead rose 0.5 percent over the past week to CNY 13,975 ($2,280) per metric ton. At KRW 4,360 ($3.89) per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since the previous week.
The price of US HDG declined 0.8 percent over the past week, settling at $724.00 per short ton.
At $1,511 per ounce, the price of US platinum bar finished the week 1.9 percent higher. Finishing the fourth week of rising prices, the price of US palladium bar increased by 0.1 percent, finishing at $757.00 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.