More proof that the renewable energy sector’s metals demand in 2013 may drop has just surfaced.
China has again retaken the lead in renewable energy investment, besting the US in 2012 by growing its investment in the sector by 20 percent from the year before, according to the Financial Times.
However, according to the Bloomberg New Energy Finance research group cited by the FT, “the amount of money put into wind farms, solar parks and other forms of green power worldwide plummeted 11 percent in 2012, the biggest annual fall in at least eight years.”
Policy and regulatory changes in countries with big renewables markets are the primary culprit.
Metals Sourced by the Renewables Industry
As the biggest mover on the weekly Renewables MMI®, silicon prices jumped 2.3 percent.
Chinese cobalt cathodes remained unchanged for the week. Prices for neodymium remained constant, and the week finished with no movement for Chinese steel plate.
Japanese, Korean, Chinese and US steel plate remained unchanged for the week.
The price of US grain-oriented electrical steel (GOES) fell by $65 per metric ton from December to January on MetalMiner’s daily pricing service.
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.