General Motors Co. won’t follow rival Ford Motor Co. in betting on aluminum vehicles, but instead will use a mix of aluminum, high-strength steel, magnesium and carbon fiber to cut the weight of future models, including its luxury sedans and pickup trucks, the automaker’s product development chief told the Wall Street Journal.
Mark Reuss laid out new details of how GM plans to slash weight from its vehicles and meet tougher fuel economy rules in a lengthy presentation to analysts and investors at GM’s vehicle proving grounds in Milford, Mich.
The aluminum cash price experienced the biggest price decline of the day, dropping 1.9% on the LME to close at $1,898 per metric ton on Thursday, October 2. On the LME, the 3-month price of aluminum fell 1.8% to $1,933 per metric ton. The Indian aluminum cash price saw little movement on Thursday, closing out around INR 120.55 ($1.95) per kilogram.
Chinese aluminum prices closed flat for the day. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat at CNY 12,250 ($1,996) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,590 ($2,214) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,200 ($2,313) per metric ton for the fifth day in a row. The cash price of Chinese aluminum remained essentially flat at CNY 13,960 ($2,274) per metric ton.