And General Motors thought the UAW was a pain.
The FT reports that GM Korea workers are planning to strike if General Motors doesn’t give into their wage demands, among other things. Turns out this is a slightly bigger issue than it seems, as about 40% of GM’s Chevrolet cars are made in the country and about 80% exported abroad, making it one of the American car company’s most successful foreign operations.
Current Metal Prices Used By Automotive OEMs:
A 9.1 percent decline in US palladium bar made it the biggest mover of the week on the weekly Automotive MMI®. The price of US platinum bar decreased 8.1 percent from the previous week.
The price of US HDG rose 1.9 percent after falling 6.4 percent during the previous week.
The cash price of primary copper fell 4.1 percent on the LME over the past week to $6,685 per metric ton. This was the third week in a row of declining prices. At $6,715 per metric ton, the copper 3-month price finished the week down 4.1 percent on the LME.
The Chinese lead price dropped 1.1 percent this week, closing out the third consecutive week of falling prices. Korean 5052 coil premium over 1050 sheet remained unchanged for the 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.