Tesla Motors Killin' It; Copper Prices Rise on Auto Sector Index

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silver tesla motors model S car on road

Source: Bloomberg Businessweek

Electric carmakers Tesla Motors is surprising everybody lately – they turned a profit!

Via Businessweek: Throughout the latest earnings call, Tesla CEO Elon “Musk insisted that Tesla has more supply problems than demand problems. The company continues to work out kinks in its factories, to get better deals from suppliers, and to try and improve gross margins by becoming more efficient overall. ‘It is not some story about how did we get super good,’ he said. ‘It is how did we stop being so stupid.'”

We’ll see if Tesla can stay ahead of the market, as the other automotive OEMs have lately – or are they?

RELATED: MetalMiner/Spend Matters analysis on automotive supplier management (can it be saved?)

This Week In Auto Industry Metal Prices:

The week’s biggest mover on MetalMiner’s weekly Automotive MMI® was the 3-month price of copper, which saw a 1.6 percent increase on the LME to $6,918 per metric ton. This comes on the heels of a 4.0 percent decline the week prior. The cash price of primary copper rose 1.3 percent on the LME to $6,891 per metric ton after falling 3.9 percent during the previous week.

The Chinese lead price ticked up 1.1 percent over the past week. The week finished with no movement for Korean 5052 coil premium over 1050 sheet.

* Get the complete prices every day on the MetalMiner IndX℠

In the past week, US HDG saw its price shift up 0.8 percent.

US palladium bar prices were off slightly, down $5 per ounce from a week ago. Prices for US platinum bar remained constant.

Don’t forget to read July 2013 MMI analysis before August’s report comes out next 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.