Renewables MMI®: Neodymium Falls 5.6%
The week’s biggest mover on the weekly Renewables MMI® was neodymium, which saw a 5.6 percent decline to CNY 425,000 ($69,999) per metric ton. Chinese steel plate gained a slight 0.5 percent this past week, finishing at CNY 3,790 ($624.22) per metric ton. Following a steady week, prices for Chinese cobalt cathodes closed flat at CNY 196,000 ($32,282) per metric ton. Prices for silicon remained constant, closing the week at CNY 13,850 ($2,281) per metric ton.
The price of Japanese steel plate increased by a slight 2.7 percent over the past week to JPY 76,000 ($735.87) per metric ton. Korean steel plate remained essentially flat from the previous week at KRW 900,000 ($854.78) per metric ton. Chinese steel plate prices ticked up 0.5 percent over the past week to CNY 3,790 ($624.22) per metric ton. Prices for US steel plate remained constant, closing the week at $761.00 per short ton.
For the fifth day in a row, US grain-oriented electrical steel (GOES) remained essentially flat at $3,043 per short 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. 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.