Renewables MMI®: Chinese Steel Plate Week Closes With 4.5% Rise

A 4.5 percent improvement on the weekly Renewables MMI® made Chinese steel plate the week’s biggest mover, closing at CNY 4,430 ($709.52) per metric ton. At CNY 215,000 ($34,435) per metric ton, the price of Chinese cobalt cathodes did not change since the previous week. At CNY 14,500 ($2,322) per metric ton, the week finished with no movement for silicon. Following a steady week, prices for neodymium closed flat at CNY 425,000 ($68,207) per metric ton.

Japanese steel plate traded sideways last week, hovering around JPY 80,000 ($854.46) per metric ton. Closing at KRW 1.1 million ($1,020) per metric ton, Korean steel plate remained unchanged for the week. In the past week, the price of Chinese steel plate shot up 4.5 percent to CNY 4,430 ($709.52) per metric ton. US steel plate fell 1.9 percent over the past week to $729.00 per short ton.

US grain-oriented electrical steel (GOES) coil prices increased 1.1 percent over the past month to end up at $3,270 per short ton, the third straight increase in the past couple months.

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.