U.S. Steel recently announced hired a new executive to lead its automotive steel business, according to the Pittsburgh Business Times.
James Bruno will join the company as senior vice president for Automotive Solutions. Prior to joining U.S. Steel he spent 20 years with TRW Automotive, one of the world’s largest automotive suppliers.
Steel and steel alloys are becoming a more competitive business for US steelmakers as lightweight aluminum continues to encroach on automotive steel’s traditional turf thanks to tougher Corporate Average Fuel Economy (CAFE) standards from the National Highway Transportation Safety Administration (NHTSA).
The week’s biggest mover on the weekly Automotive MMI® was the price of US HDG, which saw a 1.6% increase to $753.00 per short ton. This comes on the heels of a 2.2% decline the week prior.
The 3-month price of copper fell 0.8% on the LME to $6,643 per metric ton after rising 1.7% the week before. Following a 1.6% increase in the week prior, the primary copper cash price fell 0.6% on the LME last week to $6,714 per metric ton. Since last week, the price of the Chinese lead price fell to CNY 13,525 ($2,210) per metric ton after moving 0.2%. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 3,890 ($3.49) per kilogram.
The price of US platinum bar rose 1.1% to $1,203 per ounce after falling 1.0% during the previous week. The price of US palladium bar fell 0.5% to $761.00 per ounce after rising 1.3% the week before.
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.