Source: MetalMiner IndX℠
The monthly Renewables MMI® registered a value of 74 in September, on par with August’s value.
“The Renewables MMI® held steady on the back of rising GOES (grain-oriented electrical steel) pricing,” said Lisa Reisman, MetalMiner’s managing editor.
“However, we see some weakness in the complex as nearly every other metal held flat to slightly lower, including several steel plate reference points across multiple global geographies, as well as sliding cobalt prices,” she continued.
Steel plate prices continue to drift slightly and industry scuttlebutt suggests that some feel GOES pricing will likely fall rather substantially over the next couple of months, despite slightly rising HRC prices (a key raw material to GOES) and rising GOES surcharges, according to Reisman.
Select Price Drivers of the Renewables Index
After dropping the previous month, the price of silicon prices rose by 0.4 percent. The price of Chinese cobalt cathodes dropped 0.5 percent after falling the previous month. Neodymium prices increased last month, experiencing a 2.2 percent hike.
US grain-oriented electrical steel (GOES) rose 2.3 percent near the end of last month. Chinese steel plate prices finished after falling 5 percent. The price of US steel plate drifted 2 percent lower.
The price of Korean steel plate remained relatively steady over the past month, rising by about a dollar per metric ton. This was the second month in a row of little movement for Korean steel plate. Meanwhile, the price of Japanese steel plate dropped by a few dollars per ton.
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 over a 30-day period. 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.