The US Department of Commerce’s preliminary finding on Chinese subsidies of silicon crystalline photovoltaic (PV) panels has caused much consternation in the US solar industry, as the import duties came in much higher than industry expectations. Solar installers and project developers who made plans based on low-single digits or even mid-teen percentage duties now find themselves in a difficult position.
The situation is particularly bad when one considers that Commerce’s finding is only one part of the proposed tariffs. Commerce is expected to announce an additional anti-dumping finding on these same Chinese solar manufacturers on July 25.
Neodymium finished as the week’s biggest mover on the weekly Renewables MMI® after dropping 1.2 percent and landing at CNY 410,000 ($65,697) per metric ton. Chinese steel plate prices were off slightly at CNY 3,730 ($597.68) per metric ton, down from CNY 3,750 ($600.20) a week ago. Closing at CNY 207,000 ($33,169) per metric ton, Chinese cobalt cathodes remained unchanged for the week. Prices for silicon remained constant, closing the week at CNY 14,250 ($2,283) per metric ton.
Following a steady week, prices for Japanese steel plate closed flat at JPY 76,000 ($741.54) per metric ton. Korean steel plate prices held steady from the previous week at KRW 900,000 ($882.53) per metric ton. Chinese steel plate saw a 0.5 percent decline over the past week to CNY 3,730 ($597.68) per metric ton. At $848.00 per short ton, the price of US steel plate did not change since the previous week.
For the fifth day in a row, US grain-oriented electrical steel (GOES) remained essentially flat at $2,890 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.