The week’s biggest mover on the weekly Automotive MMI® was the price of US HDG, which saw a 8.4 percent increase to $785.00 per short ton. This comes on the heels of a 0.8 percent decline the week prior.
Following a 3.6 percent increase in the week prior, the 3-month price of copper fell 4.6 percent on the LME last week to $7,120 per metric ton. The cash price of primary copper fell 4.5 percent on the LME to $7,086 per metric ton after rising 2.6 percent the week before. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($3.86) per kilogram. This past week, the price of Chinese lead kept quiet, holding at at CNY 13,975 ($2,278) per metric ton.
Following a 1.9 percent increase in the week prior, the price of US platinum bar fell 2.2 percent last week to $1,478 per ounce. The price of US palladium bar fell 0.1 percent to $756.00 per ounce after rising 0.1 percent the week before.
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.