This Morning in Metals: Honda announces short-term production cuts in North America

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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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