General Motors is cutting production at two of its car plants amid mounting dealer inventories, an effort to reduce stocks of the Chevrolet Sonic and Camaro, Buick Regal and other models.
This week, GM scheduled downtime for March 9-13 at its Orion Assembly plant in suburban Detroit, where the Sonic and Buick Verano small cars are made, to adjust supply to demand, a plant worker and another person with knowledge of the schedule told the Automotive News.
The Orion plant also was idle last week and previously had scheduled a down week for April 6-10, also to trim excess inventory. Meanwhile, the “flex” line at GM’s Oshawa, Ontario, plant will be idled April 13-17, cutting production of the Camaro sports car, Regal sedan, Cadillac XTS sedan and Chevy Impala, one of the sources told the Automotive News.
US palladium bar improved by 3.3%, reaching $804.00 per ounce on the weekly Automotive MMI®. The price of US platinum bar rose 0.3% to $1,168 per ounce after falling 2.2% during the previous week.
The price of US HDG fell 1.6% over the past week to $674.00 per short ton. This was the fourth week in a row of declining prices.
Finishing the fourth week of rising prices, the cash price of primary copper increased by 2.0% on the LME, finishing at $5,805 per metric ton. The copper 3-month price rose 1.8% on the LME over the past week to $5,782 per metric ton. This was the fourth week in a row of increasing prices. The price of Korean 5052 coil premium over 1050 sheet rose 0.3% to KRW 3,997 ($3.63) per kilogram after falling 4.3% during the previous week. At CNY 12,650 ($2,021) per metric ton, the price of Chinese lead remained essentially flat.
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