Automotive MMI®: Constellium Purchases Wise Metals For Auto Aluminum Sheet

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Constellium CSTM, which makes aluminum products for a variety of markets, recently announced it would buy Wise Metals Intermediate Holdings LLC in a deal valued at $1.4 billion, including $455 million in cash and the assumption of $945 million in debt, as it aims to capture more of the growing US market for automotive aluminum sheet. The Wall Street Journal reported the deal earlier this month.

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Privately held Wise, based in Muscle Shoals, Ala., currently supplies aluminum for the beverage and food can industry. Paris-based Constellium is looking to compete in the US with Alcoa and Novelis.

The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 4.6% decline to $762.00 per ounce. This comes on the heels of a 3.2% increase the week before. The price of US platinum bar fell 1.6% over the past week to $1,254 per ounce. This was the third week in a row of declining prices.

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US HDG remained essentially flat from the previous week at $765.00 per short ton.

The 3-month price of copper rose 0.6% on the LME over the past week to $6,745 per metric ton. The cash price of primary copper settled at $6,781 per metric ton this week after shifting up 0.4% on the LME. At KRW 3,890 ($3.64) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet. Following a steady week, prices for the Chinese lead price closed flat at CNY 14,700 ($2,393) per metric ton.

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.

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