Utilities Selling Renewable Assets Quickly; US Steel Plate Up 2.5% for Week

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“Wind farms and solar parks are changing hands at record rates, signaling both an increased taste for the assets among pension funds and hard times for utilities that are the biggest sellers,” reports Bloomberg.

“About 43 percent of the 275 deals completed in the power industry in the first nine months were for renewable generators, up from 37 percent in the year-earlier period, according to data compiled by Ernst & Young LLP. The value of all the deals increased to $104 billion from $93 billion.”

US steel plate saw the largest upwards shift on the weekly Renewables MMI®, rising 2.5 percent. The week finished with no movement for Korean steel plate. Japanese steel plate prices held steady from the previous week.

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Chinese renewables prices were mixed for the week. For the third week in a row, the price of Chinese steel plate dropped, falling 1.3 percent. The price of Chinese cobalt cathodes fell 0.5 percent over the past week. This was the third week in a row of declining prices. Prices for silicon remained constant, closing the week. Following a steady week, prices for neodymium closed flat.

US grain-oriented electrical steel (GOES) remained essentially flat.

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.