Platinum, Palladium Prices Up; More Costly Automotive Catalytic Converters

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Platinum and palladium are finally being affected by the South African Mining strike as automotive customers stockpiles of the catalytic converter metals have started to run out.

The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 3.0 percent increase to $1,477 per ounce. This comes on the heels of a 1.0 percent decline the week prior. The price of US palladium bar rose 2.9 percent to $858.00 per ounce after falling 0.1 percent during the previous week.

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At $787.00 per short ton, the week finished with no movement for US HDG.

The cash price of primary copper fell 2.1 percent on the LME over the past week to $6,689 per metric ton. This was the third week in a row of declining prices. The 3-month price of copper dropped 1.8 percent on the LME this week, closing out the third consecutive week of falling prices at $6,656 per metric ton. The price of Chinese lead rose 0.4 percent to CNY 14,025 ($2,252) per metric ton after falling 0.2 percent during the previous week. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 3,890 ($3.83) per kilogram.

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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.

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