The Automotive MMI (Monthly Metals Index) moved sideways, dropping a slight 2.3%. This comes as the US automotive market, manufacturers in particular, are facing a one-two punch of rising costs and potential shortages in their metal supply chains. A big reason for this is steep tariffs on steel, aluminum and other inputs, which are driving up raw material costs. {chart} The US government has expanded its metal tariff (initially 25%) to a hefty 50% on a broad range of imports, including automotive-grade steel and aluminum. These duties essentially act as a tax on every car built with imported material. Automotive Dive ... (full story)