The latest round of a trade war that started nearly three years ago over Chinese silicon solar panels imported in the US will likely have a far more financial impact than before. In fact, prices for Chinese solar panels could go up 14% on average, Forbes reported.
That price hike will be hard to avoid and cause Chinese companies to lose much of the advantage they have enjoyed for years: the ability to make and sell solar panels at costs far lower than their competitors elsewhere in the world, according to an analysis by GTM Research. The commerce department placed import duties on the panels early this month.
The week’s biggest mover on the weekly Renewables MMI® was the price of Chinese steel plate, which saw a 2.4 percent decline to CNY 3,630 ($583.05) per metric ton. Last week marked the fourth in a row of declining prices for the metal. Chinese cobalt cathodes fell 0.2 percent over the past week to CNY 205,000 ($32,927) per metric ton. Silicon prices held steady from the previous week at CNY 14,250 ($2,289) per metric ton. Neodymium remained essentially flat from the previous week at CNY 410,000 ($65,854) per metric ton.
At JPY 76,000 ($745.97) per metric ton, the price of Japanese steel plate did not change since the previous week. Closing at KRW 900,000 ($883.78) per metric ton, Korean steel plate remained unchanged for the week. Closing out the third week of declining prices, the price of Chinese steel plate dropped by 2.4 percent, finishing at CNY 3,630 ($583.05) per metric ton. Prices for US steel plate remained constant, closing the week at $849.00 per short ton.
US grain-oriented electrical steel (GOES) saw little movement 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.