Due to a gear shift defect, Toyota will be recalling almost 700,000 Sienna minivans, according to IndustryWeek.
“The bulk of the recalled vehicles — 615,000 — are in the United States. Another 56,000 will be recalled in Canada and 23,000 will be recalled in Mexico,” the article states.
Ahh, Toyota recalls…sure takes us back.
Meanwhile, the biggest mover on MetalMiner’s weekly Automotive MMI® was the price of US platinum bar, which saw a 2.7 percent decline. This week marked the third in a row of declining prices for the metal. The price of US palladium bar increased by a slight 0.4 percent over the past week.
Following a 0.4 percent increase in the week prior, the price of US HDG fell 1.5 percent last week.
The copper 3-month price rose 1.0 percent on the LME to $7,188 per metric ton after falling 1.0 percent during the previous week. The cash price of primary copper rose 0.9 percent on the LME to $7,155 per metric ton after falling 1.0 percent during the previous week.
The price of Chinese lead rose 0.4 percent after falling 2.3 percent during the previous week. Prices for Korean 5052 coil premium over 1050 sheet remained constant.
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.