Last week the Department of Commerce doubled down and announced more import duties on silicon photovoltaic products- including cells, modules, laminates and/or panels – that might be used in production of solar power from China and Taiwan. The new duties will make it difficult for Chinese solar panel manufacturers to import any version of silicon that can later be used in solar panels without paying import duties ranging from 26 to 44% of their total value.
Additional duties were also placed on imports of grain-oriented electrical steel (GOES) from Germany, Japan and Poland this week.
Chinese cobalt cathodes improved by 2.3 percent, reaching CNY 227,000 ($36,687) per metric ton on the weekly Renewables MMI®. After a 1.4 percent decline, silicon closed out the week at CNY 14,050 ($2,271) per metric ton. Neodymium traded sideways last week, hovering around CNY 390,000 ($63,030) per metric ton. Following a steady week, prices for Chinese steel plate closed flat at CNY 3,600 ($581.81) per metric ton.
At JPY 76,000 ($746.33) per metric ton, the week finished with no movement for Japanese steel plate. Korean steel plate prices held steady from the previous week at KRW 900,000 ($873.51) per metric ton. Chinese steel plate remained essentially flat from the previous week at CNY 3,600 ($581.81) per metric ton. Following a steady week, prices for US steel plate closed flat at $870.00 per short ton.
US GOES saw little movement 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.