With a little help from Alcoa Inc., Ford is releasing a new aluminum truck.
“Ford will debut an aluminum F-Series — its anticipated and high-stakes redesign of the top-selling pickup in history — at next month’s Detroit auto show, according to people familiar with Ford’s plans. The automaker has asked Alcoa Inc., which makes aluminum blast shields for battlefield-bound vehicles, to lend some of its military-grade metal for the automaker’s display, said one of those people, who asked not to be identified because the plans are secret,” reports Bloomberg.
“Ford’s sales job will be considerable: The company is eager to demonstrate the toughness of aluminum, which is lighter than steel, to pickup buyers who’ve made F-150 the bedrock of its business. Any snafus would weigh on earnings that Ford already is projecting will decline next year and add to the challenges facing Mark Fields, likely the company’s next chief executive officer. At last year’s Detroit show, he pledged that Ford would take as much as 750 pounds (340 kilograms) out of its next-generation trucks to meet tightening fuel-economy regulations.”
In metal price news for the automotive sector…
After drifting 1.3 percent, US platinum bar dropped making it the biggest mover on the weekly Automotive MMI® this week. Closing at $695.00 per ounce, US palladium bar remained unchanged for the week.
The price of US HDG rose 0.9 percent this week, closing out the third week.
The price of Chinese lead settled this week after shifting up 1.1 percent. The cash price of primary copper rose 0.7 percent on the LME over the past week to $7,278 per metric ton. This was the third week in a row of increasing prices. Closing out the third week of rising prices, the 3-month price of copper increased by 0.6 percent on the LME, landing at $7,271 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.