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.
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.
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.