Auto Industry Moving South?

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Hold on to your hats, big changes may be a brewing…

“Auto industry jobs in North America are moving south, and soon the U.S. could have fewer than half the total automotive jobs in the North American Free Trade Agreement zone that includes Mexico and Canada, according to a Brookings Institution report due for release Oct. 4,” reports The Wallstreet Journal.

“U.S. states looking to snag more auto jobs must contend with the rapid evolution of Mexico from a low-wage country that assembled mainly low-technology components to a nation that global auto makers are comfortable choosing as a site for assembling sophisticated, luxury cars, says Mark Muro, a Brookings researcher and a co-author of the report”

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The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 2.6 percent decline. Last week marked the fourth in a row of declining prices for the metal. The price of US palladium bar fell 0.6 percent after rising 0.4 percent the week before.

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The price of US HDG rose 0.1 percent after falling 1.5 percent during the previous week.

This past week, the 3-month price of copper kept quiet, holding at on the LME at $7,182 per metric ton. At $7,156 per metric ton, the cash price of primary copper remained essentially flat on the LME. The price of Korean 5052 coil premium over 1050 sheet did not change since the previous week. Following a steady week, prices for the Chinese lead price closed flat.

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.