The biggest news on the automotive MMI this week was copper’s unlikely rise on the LME.
Rising 2.2 percent on the LME to $6,890 per metric ton, the cash price of primary copper saw the largest increase on the weekly Automotive MMI® this week. The 3-month price of copper shifted up 2.0 percent on the LME to close at $6,871 per metric ton this week.
In other automotive news, aluminum’s play to get included in the automotive MMI continued as rumors surfaced that Ford Motor Co. will use an aluminum body on its Super Duty trucks as well as the already-aluminum 2015 Ford F-150 soon.
The Chinese lead price rose 0.4 percent to CNY 14,000 ($2,246) per metric ton after falling 0.5 percent during the previous week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 3,890 ($3.82) per kilogram.
After a 0.4 percent decline, US HDG closed out the week at $779.00 per short ton.
The price of US platinum bar rose 1.6 percent to $1,468 per ounce after falling 2.2 percent during the previous week. The price of US palladium bar rose 0.9 percent to $830.00 per ounce after falling 4.1 percent during the previous 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.