Morgan Stanley Docks Ford Motor Co. Over All-Aluminum F150, As Prices Drop

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Ford Motor’s retooling of auto plants in Dearborn, Mich., and Kansas City, specifically to produce its all-aluminum-body F150 trucks, is causing profitability concerns for the major banks, should Ford run into delays. One of them, Morgan Stanley, downgraded Ford Motor based on this concern.

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(Investors are being made aware of the production process being more onerous for aluminum as opposed to steel; but as savvy buyers know, investors would be keen to know the cost differentials between AHSS and aluminum as well.)

As for aluminum prices today, some drops showed up in the markets.

Today’s LME Aluminum Prices

The LME cash price of primary aluminum experienced the biggest price decline of the day, dropping 0.5 percent to close at $2,074 per metric ton on Monday, September 8. The aluminum 3-month price weakened by 0.4 percent on the LME, settling at $2,098 per metric ton. The cash price of primary Indian aluminum fell 0.4 percent to INR 127.30 ($2.11) per kilogram.

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Chinese aluminum prices closed flat for the day. For the fifth consecutive day, the price of Chinese aluminum scrap held flat at CNY 12,250 ($1,985) per metric ton. The price of Chinese aluminum billet saw little movement at CNY 13,590 ($2,202) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,301) per metric ton. The Chinese aluminum cash price continues hovering around CNY 13,960 ($2,262) per metric ton for the fifth day in a row.

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