Month-over-month, the Automotive MMI Monthly Metals Index exhibited little movement. The index trended sideways, only moving up a slight 0.28%. However, recent events continue to raise questions about the future of the industry, especially where automotive imports are concerned. Despite the index itself not witnessing much movement, individual components of the index saw much more price movement than last month. This includes palladium, copper, and shredded scrap steel.
Despite this, firm sideways movements from other components like lead and hot dipped galvanized steel kept the overall index flat. However, the real talk of the town is the shutdown of the Baltimore port in the aftermath of the Francis Scott Key bridge collapse. With Baltimore being one of the top ports in the U.S. for automobile imports, how will this impact the U.S. automotive industry