While Honda’s deliveries grew 21 percent in the US for July, as reported by Bloomberg, their sales decreased “1.7 percent from a year earlier,” which follows a 5.6 percent year-on-year decline in June and a 4.6 percent climb in May,” according to Reuters.
The automotive outlook for the US is still rosy, according to many analysts, but we look forward to analyzing our just-released August MMI data for more clues to whether the outlook is sustainable based on the context of metals prices in the sector.
Our Weekly Metals Index of the Auto Industry
The biggest mover on the weekly Automotive MMI® was the 3-month price of copper, which saw a 4.0 percent decline on the LME to $6,809 per metric ton. This comes on the heels of a 2.3 percent increase the week before. Following a 2.2 percent increase in the week prior, the cash price of primary copper fell 3.9 percent on the LME last week to $6,800 per metric ton.
Korean 5052 coil premium over 1050 aluminum sheet traded sideways last week. Following a steady week, prices for Chinese lead closed flat.
The price of US HDG rose 0.9 percent after falling 5.7 percent during the previous week.
The price of US palladium bar fell 2.7 percent after rising 2.0 percent the week before. Following a 2.9 percent increase in the week prior, the price of US platinum bar fell 0.6 percent last 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.