Aluminum Up on LME as Fiat Chrysler Floats Idea of an Aluminum Jeep Wrangler

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The next-generation Jeep Wrangler could make use of aluminum to cut weight, Fiat Chrysler CEO Sergio Marchionne told investors yesterday at the company’s Detroit headquarters. The Toledo Blade reported that Marchionne said no vehicle in Chrysler’s lineup could make better use of the light metal than the Wrangler, which is mainly produced in the company’s Toledo area plant.

The next new Wrangler is due in 2017. Whether the company actually uses aluminum instead of steel for any of the SUV’s body panels or structure remains to be seen, the Blade said.

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At INR 110.10 ($1.83) per kilogram, the cash price of primary Indian aluminum moved up 2.1 percent on Wednesday, May 7, making it the day’s biggest mover. On the LME, the 3-month price of aluminum rose 0.8 percent to $1,792 per metric ton. The cash price of primary aluminum increased 0.7 percent on the LME to $1,749 per metric ton.

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Chinese aluminum prices were flat for the day. For the fifth consecutive day, the price of Chinese aluminum scrap held flat at CNY 12,250 ($1,968) per metric ton. For the fifth day in a row, the price of Chinese aluminum billet remained essentially flat at CNY 13,590 ($2,183) per metric ton. The price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,281) per metric ton. The cash price of Chinese aluminum saw little movement on Wednesday at CNY 13,240 ($2,127) per metric ton.

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