Monthly Renewables MMI® Decreases 1.5% to 67

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The monthly Renewables MMI® registered a value of 67 in March, a decrease of 1.5 percent from 68 in February.

Declines in US steel plate pricing and grain-oriented electrical steel pricing drove the overall index decline this month.

Exelon, for one, as this article reports, is still gung-ho on its renewable energy investment plans, with more facilities slated to come online. However, in the much longer term, wind power may indeed prove to be untenable, based on a Harvard engineering school study that was just released.

“The latest research in mesoscale atmospheric modeling, published today in the journal Environmental Research Letters, suggests that the generating capacity of large-scale wind farms has been overestimated,” according to the report.

Looking at recent trends, US power construction spending is back down for January 2013, clocking in at $99.63 billion – this after two straight months of increases.

Primary Price Drivers for Renewable Energy Metals Index

At $729.00 per short ton, US steel plate was down 1.9 percent for the month. The US grain-oriented electrical steel (GOES) coil price also dropped 1.0 percent, finishing the month at $3,238 per metric ton.

The price of neodymium closed the month at $68,290 per metric ton after dropping 6.6 percent.

The price of Chinese steel plate increased 2.8 percent to $700.58 per metric ton.

The price of Chinese cobalt cathodes held steady around $33,743 per metric ton last month. Prices for silicon remained constant this past month, holding at around $2,169 per metric ton. The price of Korean steel plate held flat over the past month at $1,008 per metric ton. The price of Japanese steel plate remained steady over the past month at $856.40 per metric 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.