Vestas is Profit-Hungry, While Monthly Neodymium Price Shoots Up

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chart of renewable energy sector metals price index sept 2013

The monthly Renewables MMI® held steady at 66 for September – although the neodymium price shot up, prices of steel plate in Korea tempered the overall metal price index.

Compare with last month’s trends – here’s our free August MMI® Report.

US Power Construction, Vestas

  • US power construction spending, a main indicator of where the sector stands, basically flatlined from June to July of this year, rising only 0.13%, according to Census data. A total of $89.4 billion was spent against $89.3 billion the month before.
  • Vestas, a major Danish wind producer, for its part is focusing on becoming profitable again. According to the Financial Times, “Vestas slipped into a net loss in 2011 and it deepened to one of almost €1bn last year. In the first six months of this year it reported a net loss of €213m but has been striving to bring its break-even level by cutting almost a third of its jobs and outsourcing much of the manufacturing process.” Vestas lost its position as the No. 1 wind producer globally to General Electric (GE) last year.

Current Steel Plate, Rare Earths Prices

The price of neodymium closed the month up 10 percent. For the second month in a row, the price of US steel plate increased, rising 0.3 percent over the past month.

* Get the complete prices every day on the MetalMiner IndX℠

Korean steel plate prices, meanwhile, plummeted 18.1 percent this month, tempering any sort of overall rise in the monthly renewable energy metals index.

A 3.8 percent drop left US grain-oriented electrical steel (GOES) lower this month. The price of Chinese cobalt cathodes drifted 1.0 percent lower as well.

Silicon hardly budged the entire month. Chinese steel plate experienced a flat month, and Japanese steel plate came down very, very slightly over the month.

Compare with last month’s trends – here’s our free August MMI® Report.

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.