The week’s biggest mover on the weekly Automotive MMI® was the cash price of primary copper, which saw a 2.8 percent increase on the LME to $7,169 per metric ton. This comes on the heels of a 1.1 percent decline the week prior. The 3-month price of copper rose 2.7 percent on the LME to $7,161 per metric ton after falling 1.3 percent during the previous week. The Chinese lead price rose 0.2 percent to CNY 13,900 ($2,289) per metric ton after falling 0.4 percent during the previous week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($4.14) per kilogram.
The price of US HDG rose 0.3 percent this week, closing out the third week at $754.00 per short ton.
Closing out the third week of rising prices, the price of US palladium bar increased by 1.0 percent, landing at $733.00 per ounce. US platinum bar gained a slight 1.0 percent this past week, finishing at $1,379 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.