The Automotive MMI (Monthly MetalMiner Index) finally broke its downward trend and traded sideways, inching up by 2.53%. Meanwhile, myriad factors continue to pressure metal prices. The demand for vehicles among consumers remains strong. However, low inventories throughout most of 2022 placed a huge strain on the index. Without parts, the manufacturing of new vehicles […]
Tag: Automotive
Automotive MMI: Lower Metals Prices and Slumping Supply Dominate the May Market
The Automotive MMI (Monthly Metals Index) experienced a slight decline from May into June. The 30-day price change was roughly -9.55, a -6.52% drop. As with last month, multiple crises impacted the marketplace’s overall health. Among them are an ongoing microchip shortage and COVID-19 lockdowns. Below, we’ll discuss if and when we can expect normalization. […]
Automotive supply chain disruptions ripple out across Europe from Russia-Ukraine war
We naturally focus on metals and energy issues when reviewing the Russian invasion of Ukraine. However, metals and energy are not the only commodities or products Russia and Ukraine export to the world. While neither country dominates any sector, both Russia and Ukraine play a significant enough role in certain sectors for supply chain disruption […]
European HRC prices fall as auto sales slump
Lower auto sales in Europe have put West European hot rolled coil prices under pressure. However, demand from construction is nonetheless helping to support prices for the flat-rolled product. “People want to invest their money into something,” one trader source told MetalMiner. We’re offering timely emails with exclusive analyst commentary and some best practice advice. […]
Automakers see 2022 steel price contract negotiations looking brutal
Just over a year ago, MetalMiner commented on the acquisition of most of ArcelorMittal USA’s assets by Cleveland-Cliffs (including potential impacts on steel prices). At the time, the MetalMiner analyst team suggested, “The deal strengthens the company’s position in the automotive sector. The company likely controls 60%-65% of exposed auto sheet supply (think steel used […]
SSAB to collaborate with automotive groups on potential supply of fossil-free steel
Sweden’s SSAB has announced collaboration plans with two European auto groups on the potential supply of fossil-free steel for auto bodies and parts. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models. SSAB to collaborate with European auto groups on potential fossil-free […]
As electric vehicles continue to surge, cobalt prices also rise
The prospect of buying an electric vehicle (EV) may fill you with anxiety. That is, range anxiety, charging point anxiety, reliability anxiety and resale anxiety. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies. Sales rise despite electric vehicle anxieties […]
This Morning in Metals: Ford to temporarily idle production of F-150 at Dearborn plant
This morning in metals news: Ford Motor Co. will idle production of its F-150 truck at its Dearborn plant until Sunday; the blockage of the Suez Canal by container vessel Ever Given is having a massive impact on global trade; and, lastly, the UK government is looking at all options to prevent the collapse of […]
Japan’s Kosei taps Rusal for new aluminum supply deal
One of the world’s leading producers of low-carbon aluminum, UC Rusal, announced a new collaboration with Japanese automotive component manufacturer Kosei, signifying yet another step in its over 30-year journey. Last week, the Russian aluminum giant Rusal said Kosei had selected it to be its global supplier of high-quality aluminum alloys. Does your company have […]
Jaguar Land Rover stops production at Midlands plant as coronavirus’ third wave hits U.K.
Although auto plants were among many industries closed in the U.K. during the first lockdown last year, closures gave companies time to prepare working environments to be safe for workers. By the end of the first lockdown, most automakers were back in at least partial production with reduced manning. Auto sales have since been poor, […]
