The biggest mover on the weekly Renewables MMI® was the price of US steel plate, which saw a two percent decline. This week marked the third in a row of declining prices for the metal.
Prices for Korean steel plate remained constant, closing the week between $900 and $950 per metric ton. Japanese steel plate remained essentially flat from the previous week, holding above $1,000 per metric ton.
Chinese renewables prices were mixed for the week. Chinese cobalt cathodes closed out the week with a 0.8 percent decline. The price of silicon fell 0.7 percent, after rising 8.6 percent the week before. Neodymium traded sideways last week, and prices for Chinese steel plate closed flat at north of $700 per metric ton.
The price of US grain-oriented electrical steel (GOES) fell 5.8 percent last month — look for an update on the GOES price soon, as it updates during the last calendar week of the month.
The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.