Johnson Matthey is looking for the European Union’s legislative moves to help its bottom line.
“Although the group’s sales mimic the fluctuations in sales of cars and trucks, a silver lining can be found in the form of Brussels’ ever-tightening legislation governing car emissions,” according to the FT.
“‘[New emissions] legislation actually drives our sales up, even in a flat [automotive] sales market,’ says [Johnson Matthey CEO] Neil Carson, whose company employs some 11,000 people across 30 countries.”
On our price index tracking metals used by automotive OEMs, US platinum bar rose 4.6 percent over the past week. The price of US palladium bar rose 2.4 percent after falling 0.7 percent during the previous week.
A 5.5 percent increase made the copper cash price the biggest mover on the weekly Automotive MMI®, closing at $7,272 per metric ton on the LME. The 3-month price of copper increased 5.5 percent over the past week to $7,300 per metric ton on the LME.
The Chinese lead price rose 3.2 percent last week. The week finished with no movement for Korean 5052 coil premium over 1050 sheet.
Following a 0.8 percent increase in the week prior, the price of US HDG fell 1.7 percent last week.
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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Johnson Matthey Hopes EU Emissions Standards Are Silver Lining
Published 08/18/2013, 01:19 AM
Updated 07/09/2023, 06:31 AM
Johnson Matthey Hopes EU Emissions Standards Are Silver Lining
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