Volkswagen has plans to “dedicate over two thirds of overall planned investment of 84.2 billion euros ($113 billion) through 2018 to vehicles and technology, it said on Friday,” reports The Economic Times.
“Spending not related to products will drop about half a billion euros per year to 12.7 billion euros between 2013 and 2015, from 13.1 billion euros in the 2012 three-year programme, VW said, citing steps to delay construction projects and streamline capacity.”
On the weekly Automotive MMI®, US palladium bar finished as the week’s biggest mover with a 5.8 percent decline. After a 2.8 percent decline, US platinum bar closed out the week.
US HDG fell 0.4 percent over the past week.
The copper 3-month price fell 0.6 percent on the LME for the week to settle at $6,984 per metric ton. The primary copper cash price declined to $6,980 per metric ton after drifting 0.6 percent on the LME since last week. The price of Chinese lead dropped 0.5 percent this week, closing out the third consecutive week of falling prices. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the 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.