Renewables MMI®: India Launches ‘ReNew’ Renewables Push

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India is launching ReNew Power Ventures,  a new $140 million investment in renewable technologies there. The funds will come from the three investors, including the Asian Development Bank (ADB). The new funding from the ADB, the Goldman Sachs Group and GEF SACEF India, a fund managed by alternative-asset investment firm Global Environment Fund. MetalMiner’s Sohrab Darabshaw has a full report.

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Closing at CNY 390,000 ($62,813) per metric ton on the weekly Renewables MMI®, neodymium finished as the week’s biggest mover with a 3.7 percent decline. Chinese cobalt cathodes traded sideways last week, hovering around CNY 222,000 ($35,755) per metric ton. Closing at CNY 14,250 ($2,295) per metric ton, silicon remained unchanged for the week. Prices for Chinese steel plate remained constant, closing the week at CNY 3,600 ($579.81) per metric ton.

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At JPY 76,000 ($749.38) per metric ton, the week finished with no movement for Japanese steel plate. Korean steel plate remained essentially flat from the previous week at KRW 900,000 ($889.06) per metric ton. Chinese steel plate traded sideways last week, hovering around CNY 3,600 ($579.81) per metric ton. In the past week, US steel plate saw its price shift up 0.5 percent to $870.00 per short ton.

US grain-oriented electrical steel (GOES) was unchanged at $3,112 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.

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