The week’s biggest mover on the weekly Automotive MMI® was the copper cash price, which saw a 2.5 percent decline on the LME to $7,021 per metric ton. This week marked the third in a row of declining prices for the metal. Closing out the third week of declining prices, the 3-month price of copper dropped by 2.3 percent on the LME, finishing at $7,029 per metric ton. The Chinese lead price fell 1.6 percent for the week to settle at CNY 14,075 ($2,310) per metric ton. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($4.11) per kilogram.
US HDG traded sideways last week, hovering around $747.00 per short ton.
After a 1.2 percent decline, US platinum bar closed out the week at $1,431 per ounce. Following a 2.3 percent increase in the week prior, the price of US palladium bar fell 0.9 percent last week to $755.00 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.