The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 2.9 percent decline to $1,351 per ounce. This week marked the third in a row of declining prices for the metal. The price of US palladium bar rose 0.7 percent to $716.00 per ounce after falling 5.8 percent during the previous week.
The price of US HDG rose 0.8 percent to $750.00 per short ton after falling 0.4 percent during the previous week.
The 3-month price of copper rose 1.2 percent on the LME to $7,068 per metric ton after falling 0.6 percent during the previous week. The cash price of primary copper rose 1.0 percent on the LME to $7,051 per metric ton after falling 0.6 percent during the previous week. The price of Chinese lead fell 0.5 percent over the past week to CNY 13,925 ($2,286) per metric ton. This was the fourth week in a row of declining prices. Closing at KRW 4,360 ($4.13) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week.
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.