Articles in Category: Automotive

list of commodities prices, including copper price, silver price, oil price and gold price

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Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including coverage of the copper price, how the Biden administration will handle the former Trump administration’s metals tariffs and much more.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Week of Feb. 22-26 (copper price, aluminum tariff and much more)

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automotive sale in dealership

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This morning in metals news: J.D. Power and LMC Automotive released their joint forecast on February US auto sales; meanwhile, US steel imports fell by 23% in January; and, lastly, Ford’s CEO urged the US government to support the implementation of electric vehicle applications.

February US auto sales forecast to rise

New-vehicle retail sales in February are forecast to rise by 3.3% when adjusted for selling days, LMC Automotive and J.D. Power said.

“Despite challenges posed by inclement weather in most of the country, retail sales demand continues to be strong with the industry posting a second consecutive month of year-over-year gains,” said Thomas King, president of the data and analytics division at J.D. Power.

Meanwhile, the average manufacturer incentive is down. According to J.D. Power and LMC Automotive, the average incentive is on pace to be $3,562 per vehicle, or down $614 from a year ago.

Furthermore, as incentives decline, average transaction prices are going up. Per the report, the forecast calls for the average transaction price to rise 9.8% to $37,524, a February record.

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Rusal logo

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One of the world’s leading producers of low-carbon aluminum, UC Rusal, announced a new collaboration with Japanese automotive component manufacturer Kosei, signifying yet another step in its over 30-year journey.

Last week, the Russian aluminum giant Rusal said Kosei had selected it to be its global supplier of high-quality aluminum alloys.

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Rusal-Kosei aluminum supply deal

Kosei, set up in 1950, designs and manufactures vehicle wheels and autoparts. The firm operates from seven countries.

In the last 30 years, Rusal has proved to be a key partner of Kosei. Rusal has supplied the Japanese company with primary foundry aluminum alloys. Kosei uses in the material in factories in India, Japan, Thailand, and the US.

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industrial production

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This morning in metals news: US industrial production picked up in January; global aluminum output also rose in January; and, lastly, General Motors reported a milestone in the construction of a new battery cell manufacturing plant in northeast Ohio.

US industrial production rises

US industrial production rose by 0.9% in January, the Federal Reserve reported.

Furthermore, manufacturing output rose by 1.0%. Meanwhile, mining output picked up by 2.3%.

Industrial sector capacity utilization reached 75.6%, up by 0.7 percentage point. The rate, however, is down 4.0% from the long-run average from 1972-2020.

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Aluminum output picks up

Global aluminum production totaled 5.71 million tons in January, the International Aluminum Institute reported this week.

Furthermore, the total marked an increase from 5.47 million tons in January 2020.

Meanwhile, China’s output reached an estimated 3.3 million tons, up from 3.09 million tons in January 2020.

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aluminum ingot stacked for export

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Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including the aluminum industry and its efforts to curb emissions, China’s latest foray in the global rare earths chess game and much more:

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Week of Feb. 15-19 (aluminum industry, rare earths and more)

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Ford logo

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After General Motors announced a series of electric vehicle and emissions targets last month, it is unsurprising that similar announcement from competitors have followed.

Today, Ford Motor Co. announced plans to charge ahead with its electrification plans in Europe.

Earlier this month, Ford announced it would invest an additional $29 billion in electric and autonomous vehicle development.

“The transformation of Ford is happening and so is our leadership of the EV revolution and development of autonomous driving,” Ford President and CEO Jim Farley said in a release Feb. 4.

In January, General Motors said it would invest nearly $800 million to upgrade its CAMI Assembly in Canada for the manufacture of EVs. Furthermore, GM said it would offer 30 all-electric models by mid-decade.

Ford ramps up electrification in Europe

Ford said it plans for 100 percent of its passenger vehicle range in Europe to be zero-emissions capable, all-electric or plug-in hybrid by 2026.

Furthermore, it plans to be completely all-electric by 2030.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Manufacturing investment

The automaker plans to invest $1 billion to update its manufacturing facility in Cologne, Germany.

“The investment will transform the existing vehicle assembly operations into the Ford Cologne Electrification Center for the manufacture of electric vehicles, Ford’s first such facility in Europe,” Ford said today.

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robot building automotive aluminum component

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This morning in metals news: Novelis announced the commercial availability of a new class of high-strength automotive aluminum; meanwhile, the United States Geological Survey updated its Mineral Deposit Database for niobium; and the global aluminum market surplus more than tripled from 2019 to 2020.

Novelis announces new high-strength automotive aluminum

Atlanta-based Novelis today announced it will offer a new “ultra-high-strength” automotive aluminum solution.

The product, Novelis AdvanzTM 7UHS-s701, offers “lightweighting potential of up to 40% over existing ultra-high strength, hot-formed steel solutions.”

“The s701 technology represents the future of high-strength material in automotive applications and offers a clear alternative to the most advanced high-strength steel products,” said Philippe Meyer, senior vice president and chief technology officer at Novelis. “Aluminum is already the material of choice for lightweighting, and now we are offering a solution that helps automakers design even safer, lighter and better performing vehicles.”

Stop obsessing about the actual forecasted aluminum price. It’s more important to spot the trend

USGS updates database entry for niobium

The United States Geological Survey (USGS) has updated its database entry for the mineral niobium.

“Niobium is vital to many sectors of our infrastructure and manufacturing economy, and the United States is 100 percent reliant on other countries for it,” said Jeff Mauk, USGS lead scientist for USMIN. “Updates to our database can help weigh the potential for domestic niobium production against the need for future trade agreements.”

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Indonesia on a globe

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Electric vehicle manufacturers are wooing Indonesia to create a nickel-based battery supply chain in that country.

Elon Musk’s Tesla and China’s Contemporary Amperex Technology, otherwise known as CATL, and South Korea’s LG Chem are in the fray. 

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Firms look to secure Indonesian nickel supply

A senior Indonesian government official told news agency Reuters the government had recently received Tesla’s investment proposal. 

Since early last year, Tesla has been courting Indonesia because for the value of its strategic commodities, including nickel. Nickel is a critical metal used in batteries for EVs due to its properties enabling mass energy storage capabilities. Furthermore, nickel reduces the overall cost of batteries by limiting the amount of cobalt required. 

Tesla seems to have come back to the Indonesian government with a reworked proposal to the one it had submitted in May 2020. The latter had shown reluctance in just signing a raw material supply agreement. 

The minister told reporters, while acknowledging Tesla had sent its proposal, that Tesla’s engagement in Indonesia would extend past raw materials. If Tesla only wants to take raw materials, then the government was not too keen in pursuing a partnership.

Indonesia is also talking to CATL and LG Chem regarding their plans to create an EV battery supply chain, the Nikkei Asia reported. 

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carbon footprint

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Although originally borrowed from a book of the same name, some call Australia the “Lucky Country.”  Blessed with resource abundance, a warm climate and decades of near uninterrupted growth, it certainly seems to have it all.

But it isn’t alone.

For decades, industrialized countries have looked at the Middle East’s oil wealth with some degree of envy. Those countries have also looked on with a little irritation, particularly when OPEC artificially engineers oil price rises to reap huge financial rewards for member states.

The United Arab Emirates seems to have the best of both vast oil wealth and the nous (to use the British slang) to invest the proceeds, not just in palaces and Rolls Royce cars but in infrastructure, education and diversified industrial development.

As the world potentially approaches peak oil — how many times have we heard that over the decades? — the UAE is already beginning to exploit its other near endless resource: sunlight.

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Carbon-free aluminum

The output from its 1 GW Mohammed bin Rashid Al Maktoum Solar Park — or, at least, 560,000 megawatt-hours of its output — will feed the Emirates Global Aluminium (EGA) smelter.

That’s enough power, The Driven reports, to produce some 40,000 tons of carbon-free aluminum.

Originally based on low-cost, natural-gas-powered electricity, the UAE can now neatly transition its aluminum smelters into the future of renewable power.

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US and UAE flags

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Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including the Biden administration reimposing a tariff on aluminum from the UAE, copper demand and much more.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Week of Feb. 8-12 (Biden administration reinstates UAE aluminum tariff, copper demand and more)

Stop obsessing about the actual forecasted aluminum price. It’s more important to spot the trend.

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