Australia May Delay Mandated Renewable Energy Target

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Will we see a delay? Possibly…”Australia could delay its mandated target for renewable energy use in a compromise option being considered by the Abbott government as it faces growing internal demands to scrap the policy completely,” reports The Guardian.

“The environment minister, Greg Hunt, has canvassed compromise options with industry including changing the existing target that 20% of energy come from renewable sources by 2020, to one requiring 25% from renewable sources by 2025.”

“The government is finalising plans for a review of the target, which it promised would be retained to underpin the business case for wind farms and other forms of renewable power after the carbon tax was scrapped.”

In metal price news for renewables…

Neodymium’s 3.6 percent decline made it this week’s biggest mover on the weekly Renewables MMI®. The week finished with no movement for Chinese cobalt cathodes. Silicon remained unchanged for the week. Chinese steel plate traded sideways last week.

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Following a steady week, prices for Japanese steel plate closed flat. Korean steel plate remained essentially flat from the previous week. The week finished with no movement for Chinese steel plate. Prices for US steel plate remained constant.

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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.