Automotive MMI® prices rose across the board during the week of Monday, July 15. The week’s biggest mover on the weekly Automotive MMI®, US HDG jumped 5.6 percent to close at $789.00 per short ton.
The 3-month price of copper rose 2.3 percent on the LME to $6,939 per metric ton after falling 2.0 percent during the previous week. The primary copper cash price rose 2.1 percent on the LME to $6,923 per metric ton after falling 2.0 percent during the previous week. The price of Chinese lead fell 0.2 percent last week, settling at CNY 13,750 ($2,241) per metric ton. At KRW 4,360 ($3.88) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet.
Closing out the third week of rising prices, the price of US palladium bar increased by 2.5 percent, landing at $732.00 per ounce. The price of US platinum bar rose 2.3 percent this week, closing out the third week at $1,403 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.