Honda of America Attacks Manufacturing Skills Gap, Automotive MMI® Up

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Honda of America Mfg., Inc. will help manufacturers tap skilled employees by recently committing $75,000 to the SME Education Foundation’s PRIME program over the next three years.

These types of action will help close the manufacturing skills gap, and in the long term, perhaps encourage reshoring or nearshoring manufacturing efforts.

Read our latest monthly Automotive MMI® report.

PRIME is a program that addresses the shortage of advanced manufacturing and technical talent in the United States by funding technical schools and training programs. According to the U.S. Department of Labor, the average age of a highly skilled U.S. manufacturing worker is 56 years old.

“As baby boomers move toward retirement, businesses must consider where the talent will come from to fill the positions that become available. Now is the time to inspire and prepare the next generation, and it’s up to the manufacturing community to support this effort,” said Bart A. Aslin, CEO of the SME Education Foundation, in a recent release.

Current Prices For Metals Used by Automotive OEMs 

The week’s biggest mover on the weekly Automotive MMI® was the 3-month price of copper, which saw a 3.6 percent increase on the LME to $7,460 per metric ton. This comes on the heels of a 4.1 percent decline the week prior. The cash price of primary copper rose 2.6 percent on the LME to $7,421 per metric ton after falling 3.2 percent during the previous week.

today's metal prices - MetalMiner IndXThe price of Chinese lead rose 0.5 percent over the past week. The price of Korean 5052 coil premium over 1050 sheet did not change since the previous week.

The price of US HDG declined 0.8 percent over the past week.

US platinum bar prices finished the week 1.9 percent higher. Finishing the fourth week of rising prices, the price of US palladium bar increased by 0.1 percent.

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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.