Ford To Add 11,000 New U.S. and Asia Jobs in 2014; Primary Copper Rises 2.8% for the Week

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Ford Motor has big plans. The company is looking “to add 11,000 jobs in the U.S. and Asia in 2014, with more than half of those hires coming in the latter region where the company is scheduled to open two factories,” reports Bloomberg.

“Ford plans to hire about 6,000 people in Asia, most of them as hourly employees, according to a statement yesterday. The automaker is on track to open its Changan Ford Assembly Plant No. 3 and Changan Transmission Plant in Chongqing, China, in 2014, the company said.”

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“Ford’s Asia Pacific Africa unit sold its 1 millionth vehicle of the year in October, the Dearborn, Michigan-based company said. The automaker is on pace for 6 million sales globally in 2013.”

“’With more products, plants and people, in 2014 we will take another significant step in the implementation of our Asia Pacific growth plan,’ Dave Schoch, president of Ford Asia Pacific, said in the statement.”

In automotive metal price news…

The week’s biggest mover on the weekly Automotive MMI® was the cash price of primary copper, which saw a 2.8 percent increase on the LME to $7,169 per metric ton. This comes on the heels of a 1.1 percent decline the week prior. The 3-month price of copper rose 2.7 percent on the LME to $7,161 per metric ton after falling 1.3 percent during the previous week. The Chinese lead price rose 0.2 percent after falling 0.4 percent during the previous week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week.

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The price of US HDG rose 0.3 percent this week, closing out the third week.

Closing out the third week of rising prices, the price of US palladium bar increased by 1.0 percent. US platinum bar gained a slight 1.0 percent this past 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.