As palladium corrects itself from its summer highs, steel makers continue to introduce new products to keep or even add sales in the lucrative automotive market. ArcelorMittal and AK Steel were the prime manufacturers to show off automotive steel alloys this week.
Toyota became the latest automaker to invest in aluminum for body applications this week as well.
The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 2.7% decline to $1,312 per ounce. Last week marked the fourth in a row of declining prices for the metal. The price of US palladium bar fell 1.9% over the past week to $814.00 per ounce. This was the third week in a row of declining prices.
The price of US HDG increased by a slight 0.5% over the past week to $776.00 per short ton.
Since last week, the price of the cash price of primary copper fell to $6,750 per metric ton on the LME after moving 2.1%. The 3-month price of copper fell 2.1% on the LME for the week to settle at $6,714 per metric ton. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 3,890 ($3.74) per kilogram. At CNY 14,700 ($2,395) 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.