The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 2.7 percent decline to $1,424 per ounce. This week marked the third in a row of declining prices for the metal. The price of US palladium bar increased by a slight 0.4 percent over the past week to $721.00 per ounce.
Following a 0.4 percent increase in the week prior, the price of US HDG fell 1.5 percent last week to $735.00 per short ton.
The copper 3-month price rose 1.0 percent on the LME to $7,188 per metric ton after falling 1.0 percent during the previous week. The cash price of primary copper rose 0.9 percent on the LME to $7,155 per metric ton after falling 1.0 percent during the previous week. The price of Chinese lead rose 0.4 percent to CNY 14,100 ($2,303) per metric ton after falling 2.3 percent during the previous week. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($4.03) per kilogram.
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.