GM’s recall woes may be expanding as Reuters reports that Chevrolet dealers have stopped selling small Chevy Cruze automobiles with 1.4-liter turbo engines for an undisclosed issue. GM has already recalled 1.62 million automobiles this year for faulty ignition switches.
Automakers are also still struggling with how to conform to tougher corporate average fuel economy (CAFE) standards next year, even as aluminum producers unveil newer, lighter wheels and invest in production of OEM components to try to win their business.
After falling 2.8 percent, US platinum bar landed at $1,400 per ounce and making it the week’s biggest mover on the weekly Automotive MMI®. The price of US palladium bar rose 2.5 percent to $779.00 per ounce after falling 1.6 percent during the previous week.
Following a 0.8 percent increase in the week prior, the price of US HDG fell 2.0 percent last week to $745.00 per short ton.
The 3-month price of copper rose 1.6 percent on the LME to $6,550 per metric ton after falling 0.3 percent during the previous week. The primary copper cash price rose 1.3 percent on the LME to $6,555 per metric ton after falling 0.4 percent during the previous week. The price of Chinese lead rose 0.2 percent over the past week to CNY 13,750 ($2,214) per metric ton. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($4.06) per kilogram.
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.