Tata Motors has “posted profit that beat analyst estimates as sales at its Jaguar Land Rover unit expanded at a faster pace,” reports Bloomberg.
“Second-quarter net income gained 71 percent to 35.4 billion rupees ($564 million), the Mumbai-based company said. That exceeded the 28 billion-rupee median of 39 analysts’ estimatescompiled by Bloomberg. Profit at the Jaguar Land Rover unit rose 66 percent to 507 million pounds ($815 million).”
The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 2.3 percent increase. Last week marked the fourth in a row of rising prices for the metal. The price of US platinum bar fell 1.4 percent last week.
The price of US HDG rose 0.7 percent after falling 0.1 percent during the previous week.
The copper 3-month price fell 1.1 percent on the LME to $7,198 per metric ton after rising 0.9 percent the week before. Following a 1.0 percent increase in the week prior, the primary copper cash price fell 1.0 percent on the LME last week to $7,199 per metric ton. The Chinese lead price fell 0.2 percent after rising 0.2 percent the week before. 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.