EU Faces Criticism After Relaxing Renewables Target

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The European Union is currently facing criticism. They “on Wednesday shied away from more ambitious renewable energy goals as the bloc’s sluggish economy appeared to dent its zeal in the global fight against climate change,” reports The Washington Post.

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“To the dismay of Germany, environmentalists and others, the European Commission stepped back from proposing tougher binding renewable energy targets for each of the 28 member nations. Instead, it seeks the introduction of a less ambitious pan-European goal of 27 percent by 2030.”

In metal price news for the renewable energy metals markets…

Chinese cobalt cathodes improved by 0.8 percent on the weekly Renewables MMI®. Silicon gained a slight 0.4 percent this past week. The price of neodymium did not change since the previous week. Chinese steel plate prices held steady from the previous week.

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Japanese steel plate remained unchanged for the week. Korean steel plate traded sideways last week. Chinese steel plate remained essentially flat from the previous week. The price of US steel plate declined 0.3 percent over the past week.

For the fifth consecutive day, US grain-oriented electrical steel (GOES) held 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.