The big news in automotive metals this week was Alcoa announcing that it has developed a production technique for automotive aluminum sheet that is 50% more energy efficient than the processes for steel alloys.
Copper and palladium joined steel in seeing their prices decline this week.
The copper 3-month price finished as the week’s biggest mover on the weekly Automotive MMI® after dropping 3.0% on the LME and landing at $6,390 per metric ton. The cash price of primary copper declined to $6,451 per metric ton after drifting 3.0% on the LME since last week. At KRW 3,890 ($3.52) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet. The price of Chinese lead remained steady from the previous week at CNY 13,550 ($2,204) per metric ton.
The price of US HDG fell 0.9% to $753.00 per short ton after rising 0.9% the week before.
Following a 5.1% increase in the week prior, the price of US palladium bar fell 0.8% last week to $794.00 per ounce. The price of US platinum bar fell 0.4% to $1,221 per ounce after rising 1.9% the week before.
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.