Palladium is the stand-out precious metal du jour, but when it comes to the bar variety, it’s price is not going up for automotive customers.
Aluminum prices are actually increasing for Ford and other manufacturers using it for the bodies of 2015 model-year cars and trucks. It’s not yet a part of the automotive MMI but that could change next year.
The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 3.4 percent decline to $846.00 per ounce. This comes on the heels of a 0.8 percent increase the week before. Closing out the third week of declining prices, the price of US platinum bar dropped by 1.1 percent, finishing at $1,459 per ounce.
Following a 0.7 percent increase, US HDG finished the week at $770.00 per short ton.
The cash price of primary copper fell 1.3 percent on the LME to $6,994 per metric ton after rising 0.4 percent the week before. At $6,976 per metric ton, the 3-month price of copper finished the week down 1.2 percent on the LME. Following a 6.3 percent increase in the week prior, the price of Chinese lead fell 0.8 percent last week to CNY 14,700 ($2,385) per metric ton. At KRW 3,890 ($3.76) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet.
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.