Automotive MMI®: Palladium Still Strong, Jeep Wrangler Goes Aluminum

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The 2017 Jeep Wrangler will have an aluminum body to save weight, and will remain a body-on-frame vehicle, sources told the Automotive News this week.

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Palladium had a strong week as Norilsk Nickel and other investors are in talks to buy a large amount of the metal from Russia’s central bank. If the deal is agreed, Norilsk would be able to guarantee the availability of stock for long-term customers to increase market transparency. Palladium was also in the news as an extender of the life of biofuels.

The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 3.4% increase to $790.00 per ounce. This week marked the third in a row of rising prices for the metal. US platinum bar rose 0.2% over the past week to $1,257 per ounce.

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After a 0.4% decline, US HDG closed out the week at $761.00 per short ton.

The cash price of primary copper rose 1.8% on the LME to $6,854 per metric ton after falling 0.7% during the previous week. The 3-month price of copper rose 1.4% on the LME to $6,785 per metric ton after falling 0.8% during the previous week. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 3,890 ($3.64) per kilogram. The Chinese lead price closed at CNY 14,700 ($2,393) per metric ton after a flat 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.

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