Platinum closed the year largely flat, keeping costs generally low for automotive purchasers or platinum and palladium.
While a strong US dollar still is hindering gold and silver prices, the outlook is actually better for industrial users of the platinum and palladium.
The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 1.9% increase to $1,210 per ounce. This comes on the heels of a 0.4% decline the week prior. The price of US palladium bar fell 0.4% to $808.00 per ounce after rising 4.0% the week before.
US HDG prices were off slightly at $763.00 per short ton, down from $764.00 a week ago.
Following a 0.8% increase in the week prior, the copper 3-month price fell 0.8% on the LME last week to $6,271 per metric ton. The cash price of primary copper fell 0.6% on the LME to $6,325 per metric ton after rising 0.9% the week before. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 3,890 ($3.56) per kilogram. The Chinese lead price stayed essentially flat at CNY 12,650 ($2,039) per metric ton.
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.