The monthly Renewables MMI® registered a value of 69 in December, a decrease of 1.4 percent from 70 in November.
The big story for the monthly renewable energy metals price index involves the GOES (grain-oriented electrical steel) pricing, which acted as the main drag on the overall index.
Stainless surcharges including GOES surcharges slid this past month, despite rising nickel prices.
“The renewables monthly index turned in the second-worst performance of all of the indexes when we compare January 2012 starting values to December 1, 2012 ending values,” said Lisa Reisman, managing editor of MetalMiner.
“We can see this sector continues to suffer with no immediate improvement in sight,” Reisman said.
Price Drivers of Declining Renewables Index
US grain-oriented electrical steel (GOES) declined, falling 7.1 percent over the past month.*
Chinese steel plate finished the month with a 3.9 percent increase. The price of US steel plate rose 0.9 percent after falling the previous month.
Korean steel plate increased 0.7 percent last month.
*The source for one of the inputs of our GOES price has not updated it, therefore we tweaked the formula for this month’s price. If/when the input is updated, we’ll publish an updated GOES price.
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.