Dutch Economy Set to Gain From UK, Germany Wind Industry Boom; Neodymium Falls 5.6%

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Looks as though “the Dutch economy is set to benefit from a booming offshore wind industry in neighbouring Britain and Germany as its oil and gas industry can offer services in offshore construction and maintenance, ABN Amro said,” reports Reuters.

“High development costs for renewables, triggered by government subsidies, have come under attack in Europe as they are largely financed through rising household energy bills.”

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“Moody’s Investors Service said in November that European programmes to invest in renewables ‘will continue to drive energy bills upwards for the majority of EU countries, while the growth in disposable income is expected to remain weak.'”

“Dutch bank ABN Amro took a differing view in a research note on Tuesday, arguing that the green boom was benefitting the country’s overall economy.”

In metal price news for renewables…

The week’s biggest mover on the weekly Renewables MMI® was neodymium, which saw a 5.6 percent decline. Chinese steel plate gained a slight 0.5 percent this past week. Following a steady week, prices for Chinese cobalt cathodes closed flat. Prices for silicon remained constant.

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The price of Japanese steel plate increased by a slight 2.7 percent over the past week. Korean steel plate remained essentially flat from the previous week. Chinese steel plate prices ticked up 0.5 percent over the past week. Prices for US steel plate remained constant.

For the fifth day in a row, 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.