Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Ford Motor Bullish On Sales, US Palladium Prices Fall

ByMetalMiner
Published 09/06/2013, 09:36 AM
Updated 07/09/2023, 06:31 AM

Ford Motor (F), one of the US Big Three automakers, is confident that US auto sales will spike to 17 million within the next few years.

Citing rising employment and consumer confidence, Ford CEO Alan Mulally told the FT, “‘The trend…[is] sustainable in the near term thanks to the pent-up demand, which is a real turbo-boost for the industry,’ he said, adding that a long-term sales trend would be between 15m-17m vehicles. ‘The average age of a car in the US is 11 years right now.’”

*MetalMiner’s monthly Automotive MMI® comes out today – keep an eye out!

Meanwhile, the biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 6.5 percent decline. This comes on the heels of a 0.3 percent increase the week before. The price of US platinum bar fell 2.9 percent after rising 1.8 percent the week before. Dropping PGM prices can only be good news for car manufacturers in the longer term.

US HDG traded sideways last week.

The Chinese lead price declined after drifting 1.7 percent since last week. Since last week, the price of the copper 3-month price fell to $7,160 per metric ton on the LME after moving 1.6 percent. With a 1.5 percent decrease on the LME, the primary copper cash price closed the week at $7,125 per metric ton. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed 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.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.