The monthly Automotive MMI® registered a value of 89 in January, a decrease of 1.1% from 90 in December.
Automotive markets took a year-end fall mostly from rapidly evolving automotive metal choices. What is not yet reflected in the Automotive MMI is that steel’s loss is aluminum’s gain, as vehicles such as the 2015 Ford F-150 change metals decisions to lighten fleet loads. Lower oil prices are also having an effect on sales floors if not material purchases just yet.
It’s still too early in the new year to judge the automotive market and low gas prices could affect demand significantly enough that steel, platinum and copper purchasing strategies at major automakers could go up with that demand.
A 7.0% drop left the price of Chinese lead at CNY 12,650 ($2,036) per metric ton. The price of US platinum bar drifted 2.4% lower to $1,204 per ounce. Last month, US palladium bar prices dropped by 1.1% to $796.00 per ounce. At $6,358 per metric ton, the primary copper cash price was down 0.4% on the LME. On the LME, the copper 3-month price decreased by 0.4% this month, ending at $6,289 per metric ton.
US HDG prices increased from $753.00 to $763.00 per short ton last month.
Korean 5052 coil premium over 1050 sheet traded sideways last month, staying around $3.52 per kilogram.
The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends over a 30-day period. 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.