North American Palladium‘s stock rose by 51.8% in the past month. This combination of strong price performance and favorable technical data, could suggest that the stock is on the right path.
North American is an established PGM producer that has been operating its main revenue source, its Lac des Iles mine in northern Ontario, Canada, since 1993.
The week’s biggest mover on the weekly Automotive MMI®, US palladium bar jumped 2.5% to close at $824.00 per ounce. US platinum bar gained a slight 1.0% this past week, finishing at $1,180 per ounce.
The price of US HDG fell 1.8% over the past week to $662.00 per short ton. This was the fourth week in a row of declining prices.
The price of Chinese lead fell 1.6% for the week to settle at CNY 12,450 ($1,985) per metric ton. Finishing the fourth week of rising prices, the 3-month price of copper increased by 1.4% on the LME, finishing at $5,865 per metric ton. The cash price of primary copper increased 1.3% on the LME this week, closing out the fourth consecutive week of rising prices at $5,881 per metric ton. In the past week, Korean 5052 coil premium over 1050 sheet saw its price shift up 0.5% to KRW 4,016 ($3.65) 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. 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.