Chrysler’s auto bundles retreat $38 a ton for Oct.
Sep 29, 2006 | 12:12 PM
| Michael Marley
Prices paid for Chrysler Group's factory bundles have reversed course, falling an average of $38 a ton in sales made to several steel mills late last week, industry sources said.
A slide in these industrial steel scrap prices was expected following the $52-a-ton plunge earlier in the week in Ford Motor Co.'s sale of bundles from its Chicago-area stamping plant. That slide erased all of the $45-a-ton gain the Dearborn, Mich.,-based automaker had obtained a month earlier (AMM, Aug. 30). Chrysler, Auburn Hills, Mich., had achieved a more modest $10 gain in the prior go-round (AMM, Sept. 1).
The results of the two sales take the AMM Factory Bundles Index down to $246 a ton for October, a $40-a-ton decline from September. It also marks the second time in the past four months that a modest increase in these prices for one month was followed by a steep decline the next.....
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.