Volkswagen to Build SUVs; US Platinum Bar Week Closes Up 4.2%

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Sports utility vehicles are on the horizon for Volkswagen. The company “is preparing to build sport utility vehicles in North America as it struggles to conquer a market whose resistance is threatening its bid to be world No. 1,” reports Reuters.

“The German carmaker prefers its Tennessee factory over a Mexican plant to produce the new SUV and may announce the plan as soon as next week’s Detroit auto show, said a source familiar with the matter who asked not to be identified.”

“The Volkswagen (VW) group, with brands ranging from no-frills SEAT to Bentley, is aiming to sell 10 million cars in 2018 to overtake General Motors and Toyota – including 800,000 U.S. deliveries for the core VW badge.”

In metal price news for the automotive sector…

A 4.2 percent improvement on the weekly Automotive MMI® made US platinum bar the week’s biggest mover. Over the past week, US palladium bar rose 4.1 percent.

* Get the complete prices every day on the MetalMiner IndX℠

The price of US HDG rose 0.1 percent over the past week. This was the fifth week in a row of increasing prices.

The price of Chinese lead fell 0.5 percent last week. Following a 1.6 percent increase in the week prior, the cash price of primary copper fell 0.4 percent on the LME last week to $7,367 per metric ton. The copper 3-month price fell 0.2 percent on the LME to $7,355 per metric ton after rising 1.4 percent the week before. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week.

See why our Auto MMI® is a leading indicator: download the Monthly MMI® Report.

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.