Even as palladium prices are falling, automakers are still finding ways to limit costs for exhaust systems and catalytic converters. Some are even turning to Rhodium to replace platinum and palladium.
In other automotive news, ArcelorMittal released a new line of steel alloy auto body products that eliminate 1/4 of the weight of normal steel bodies. AK Steel released a new nickel-less stainless product aimed at heat-intensive uses such as automotive exhaust components, too.
The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 2.4 percent decline to $830.00 per ounce. Last week marked the fourth in a row of declining prices for the metal. Closing out the third week of declining prices, the price of US platinum bar dropped by 2.2 percent, finishing at $1,348 per ounce.
The price of US HDG rose 0.7 percent to $772.00 per short ton after falling 1.5 percent during the previous week.
At $6,857 per metric ton, the copper 3-month price finished the week down 0.2 percent on the LME. The cash price of primary copper stayed essentially flat on the LME at $6,895 per metric ton. Closing at KRW 3,890 ($3.76) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week. At CNY 14,700 ($2,394) per metric ton, the price of Chinese lead remained essentially flat.
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.