This morning in metals news: Honda announced it will suspend most of its North American automotive production; copper has leveled off over the last couple of weeks; and service center shipments declined in February.
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Honda to suspend most North American production
In major automotive news, Honda said it will suspend most of its production in North America for a week, Reuters reported.
Per the report, the automaker cited a variety of factors for the production stoppage. The issues included: supply chain problems related to congestion at ports, the semiconductor shortage and inclement weather in recent weeks.
Copper price trends sideways
The LME copper price took a fall in late February and into March.
LME three-month copper fell from a Feb. 25 peak of $9,563 per metric ton down to $8,757 per metric ton March 4.
Since then, however, the price has traded sideways. Three-month copper closed Thursday at $9,025 per metric ton.
Service center shipments down in February
According to the Metals Service Center Institute, service center shipments declined in February.
US steel shipments fell by 4.4% year over year. Meanwhile, aluminum shipments fell by 2.0% year over year.
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