Toyota Motor Corp. said yesterday it would recall 57,000 vehicles globally to replace potentially deadly airbags made by Takata Corp., as a safety crisis around the Japanese supplier looks far from being contained.
Toyota’s action follows a recall by rival Honda Motor Co. for the same problem two weeks ago after revelations of a fifth death, in Malaysia, linked to Takata’s airbag inflator.
The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 5.1% increase to $800.00 per ounce. This comes on the heels of a 0.5% decline the week prior. Following a 1.9% increase, US platinum bar finished the week at $1,226 per ounce.
In the past week, US HDG saw its price shift up 0.9% to $760.00 per short ton.
The cash price of primary copper fell 1.0% on the LME over the past week to $6,648 per metric ton. This was the third week in a row of declining prices. For the third week in a row, the copper 3-month price dropped, falling 0.8% on the LME to $6,590 per metric ton. The Chinese lead price rose 0.2% to CNY 13,550 ($2,207) per metric ton after falling 0.2% during the previous week. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 3,890 ($3.50) 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.