Factory bundle prices off $25/T for November
Oct 31, 2007 | 03:09 PM
| Michael Marley
Winning offers for the auto industry's factory bundles in November are down an average of $25 a long ton from last month, industry source said, about $10 a ton lower than many had anticipated prior to the sale.
The decline was the steepest for the bellwether grade in the past six months, taking the AMM Factory Bundles Index down to $283 a ton for November following the sideways step in October. The largest price plunge thus far this year was a $77-a-ton dip in May, which took the index to $265 a ton from $342 in April.
This month's material includes about 35,000 tons of factory bundles from four Chrysler Group stamping plants and a Mitsubishi Motors North America Inc. plant. As in past months, Ford Motor Co. reportedly offered no bundles from its Chicago-area stamping plant, although Ford executives could not be reached to confirm that. Ford sells the first 10,000 tons of the bundles from the stamping plant to a Midwest flat-rolled mini-mill each month and has not exceeded that level for the past year, although it used to generate 15,000 tons of bundles per month.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.