Nissan Motor Co and Malaysian partner, Tan Chong Motor Holdings Bhd have decided to build an assembly plant in Myanmar. They “will start complete knock down production of the Sunny sedan in Myanmar…in 2015, it said on Friday, becoming the first major global carmaker to assemble cars in the Southeast Asian country,” Reuters reported.
“We are confident that Myanmar will be an important economic engine for the region and are committed to help develop its automotive industry,” said Nissan Chief Executive Officer Carlos Ghosn in the statement.
The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 3.9 percent increase. This comes on the heels of a 0.7 percent decline the week prior. The price of US platinum bar fell 0.4 percent over the past week. This was the third week in a row of declining prices.
The price of US HDG rose 0.4 percent after falling 1.1 percent during the previous week.
The price of Chinese lead finished the week down 2.3 percent. The copper 3-month price fell 1.0 percent on the LME to $7,118 per metric ton after rising 0.4 percent the week before. Following a 0.5 percent increase in the week prior, the cash price of primary copper fell 1.0 percent on the LME last week to $7,090 per metric ton. The week finished with no movement for Korean 5052 coil premium over 1050 sheet.
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.