ArcelorMittal has a message for automakers scrambling to hit the new fuel economy targets mandated for 2025: You don’t have to make vehicles out of aluminum to do it.
And to back up that view, the steel giant is betting heavily on an advanced steel-finishing plant here, Automotive News reported.
The facility in Calvert, Ala., about 35 miles north of Mobile, was originally built by ThyssenKrupp and opened in 2011. It was sold in February for $1.9 billion to ArcelorMittal and Nippon Steel & Sumitomo Metal Corp. They now run it as a joint venture called AM/NS Calvert and are gearing up to provide North American automakers with the high-strength steel needed to reduce vehicle weight and improve fuel economy.
The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 3.2% increase to $799.00 per ounce. This comes on the heels of a 4.9% decline the week prior. Closing out the third week of declining prices, the price of US platinum bar dropped by 0.2%, finishing at $1,274 per ounce.
US HDG saw a 1.2% decline over the past week to $765.00 per short ton.
The copper 3-month price stayed essentially flat on the LME at $6,705 per metric ton. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 3,890 ($3.64) per kilogram. On the LME, the cash price of primary copper closed at $6,755 per metric ton after a flat week. At CNY 14,700 ($2,393) per metric ton, the price of Chinese lead remained essentially flat.
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.