Toyota Motor Corp’s Turkish subsidiary has big plans and is shifting focus. In fact, it “aims to increase output by some 46 percent next year to 150,000 vehicles and focus more on exports across Africa and the Middle East in response to weak European markets, its chief executive said” [in an interview with Reuters].
“The production increase, bringing the plant to capacity, will reflect the full-year impact of output of the Corolla passenger car, which it started producing in June, CEO Orhan Ozer.”
“He also said the company expected its Japan head office to decide by the end of the year whether to launch production of a new model in Turkey, but he did not give more details.”
US palladium bar’s 2.4 percent decline made it this week’s biggest mover on the weekly Automotive MMI®. The price of US platinum bar fell 0.7 percent over the past week. This was the fourth week in a row of declining prices.
The price of US HDG fell 0.4 percent after rising 0.1 percent the week before.
The cash price of primary copper saw a 0.2 percent drop this week on the LME, closing at $7,140 per metric ton. The price of Chinese lead closed last week, after a 0.2 percent drop. The 3-month price of copper stayed essentially flat on the LME at $7,178 per metric ton. Korean 5052 coil premium over 1050 sheet prices held steady from the previous 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.