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.....





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