Metals making up the Automotive MMI® were mixed for the week of Monday, July 22. The week’s biggest mover on the weekly Automotive MMI® was the price of US HDG, which saw a 5.7 percent decline to $744.00 per short ton. This comes on the heels of a 5.6 percent increase the week before.
Last week, the copper 3-month price shifted slightly on the LME, rising by 2.3 percent to close at $7,096 per metric ton. The primary copper cash price shifted up 2.2 percent on the LME to close at $7,076 per metric ton this week. The Chinese lead price rose 0.4 percent to CNY 13,800 ($2,249) per metric ton after falling 0.2 percent during the previous week. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($3.91) per kilogram.
US platinum bar gained a slight 2.9 percent this past week, finishing at $1,444 per ounce. The price of US palladium bar rose 2.0 percent over the past week to $747.00 per ounce. This was the fourth week in a row of increasing prices.
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.