Chancellor Angela Merkel’s cabinet approved a reform of Germany’s renewable energy law designed to curb a rise in the cost of electricity in Europe’s biggest economy driven by the rapid expansion of green power.
The reform will slow the growth of green energy, which accounts for 25 percent of Germany’s electricity, and force new investors in green power to take some risk.
Renewables are moving steadily if unspectacularly on the MMI. MetalMiner’s own Stuart Burns discussed Tesla Motors’ planned gigafactory, which will source cobalt and other minerals needed for the production of electric and hybrid car batteries, with Bloomberg News. China’s continued standoff with the WTO over rare earth metals also could be having an effect on the production of electronics in solar panels and wind turbines as well as cell phones and other computing devices.
The monthly Renewables MMI® registered a value of 65 in April, on par with March’s value.
After dropping the previous month, the price of US steel plate prices rose 3.2 percent to $826.00 per short ton. After a 2.4 percent increase, neodymium finished the month at $68,357 per metric ton. Silicon gained 1.8 percent to finish the month at $2,276 per metric ton.
US grain-oriented electrical steel (GOES) decreased by 0.6 percent this month, ending at $2,964 per short ton. Chinese steel plate fell 0.3 percent to $624.06 per metric ton.
At a price of $32,811 per metric ton, Chinese cobalt cathodes did not budge the entire month. Korean steel plate held pat last month at $846.86 per metric ton. The price of Japanese steel plate held steady around $736.30 per metric ton last month.
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 over a 30-day period. 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.