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

Honda sign
Björn Wylezich/AdobeStock

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.
The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

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.
Find more insight on MetalMiner’s LinkedIn.

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to Top