Despite its net income falling “22 percent in the third quarter, to $1.27 billion, as the company took charges related to revamping its European operations and its United States pension obligations,” Ford Motor is feeling confident (The New York Times).
Ford “beat analysts’ expectations by setting a record for third-quarter pretax profit of $2.6 billion, up $426 million, a performance that led Ford to raise its profit forecast for the year. It was the company’s 17th consecutive profitable quarter.”
The price of US HDG increased by a slight 1.4 percent over the past week to $743.00 per short ton.
The Chinese lead price rose 0.7 percent over the past week. The primary copper cash price settled at $7,200 per metric ton this week after shifting up 0.6 percent on the LME. On the LME, the copper 3-month price ticked up 0.5 percent over the past week to $7,215 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.