The automotive industry continues to make headlines this week, with Toyota Motor Corp pushing sales in Brazil and Mexico, and a PWC report playing up Chinese auto growth doubling in the coming decade.
Via Industry Week: “According to PwC’s experts, auto sales will reach 27.7 million units in China in 2019, compared with 15.8 million in 2012. This year, the figure is projected to rise to 18.1 million units, according to the study.”
In a separate article: “‘Toyota needs more production capacity in Brazil as well as in Mexico,’ said Mark Hogan, who worked in Brazil when he was with GM. ‘We also need a new entry level product in Brazil,’ he added.”
In terms of metals used in the auto sector, the biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 1.8 percent increase. This week marked the third in a row of rising prices for the metal.
The price of US palladium bar finished the week 0.3 percent higher.
The price of US HDG steel fell 0.3 percent after rising 1.2 percent the week before.
Following a 2.8 percent increase in the week prior, the price of Chinese lead fell 0.3 percent last week. On the LME, the copper 3-month price closed at $7,276 per metric ton after a flat week. The week finished with no movement for Korean 5052 coil premium over 1050 sheet. Following a steady week, prices for on the LME the primary copper cash price closed flat at $7,236 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.