Jaguar/Land Rover recently revealed drawings of the new Jaguar XE that will be the first model in Jaguar’s portfolio to use an all-aluminum monocoque chassis, a first in the sport sedan segment. In addition to the chassis, Autocar UK suggests the XE is being engineered with an aluminum suspension. The aluminum vs. nanosteel battle for the automotive market shows no sign of ending anytime soon as automakers are still experimenting with how to bring average fleet weight down before new corporate average fuel economy (CAFE) standards go into effect next year.
Platinum’s price was surprisingly steady again this week as the South African Miners’ strike still has not caused the metal, and its cousin palladium, both used in catalytic converters in automobiles, to rise much as of yet.
The week’s biggest mover on the weekly Automotive MMI® was the price of US HDG, which saw a 0.8 percent decline to $784.00 per short ton. This comes on the heels of a 1.8 percent increase the week before.
Following a 2.2 percent increase in the week prior, the cash price of primary copper fell 0.6 percent on the LME last week to $6,841 per metric ton. The 3-month price of copper fell 0.6 percent on the LME to $6,802 per metric ton after rising 2.2 percent the week before. Closing out the third week of rising prices, the price of Chinese lead increased by 0.4 percent, landing at CNY 14,000 ($2,245) per metric ton. At KRW 3,890 ($3.81) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet.
Following a 3.4 percent increase in the week prior, the price of US platinum bar fell 0.3 percent last week to $1,473 per ounce. The price of US palladium bar rose 0.1 percent over the past week to $826.00 per ounce. This was the third week in a row of increasing prices.
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.