Renewables MMI®: Steel Plate Prices Drag Down Renewables

China’s Baosteel recently announced it will leave prices for medium steel plate unchanged in February.

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Steel plate traded either flat or downward for all renewables MMI categories this week.

This past week, US steel plate dropped 7.4% on the weekly Renewables MMI®, landing at $751.00 per short ton as the week’s biggest mover. Korean steel plate prices held steady from the previous week at KRW 900,000 ($833.15) per metric ton. Japanese steel plate traded sideways last week, hovering around JPY 80,000 ($679.61) per metric ton.

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Chinese renewables prices were mixed for the week. The price of Chinese steel plate fell 5.7% over the past week to CNY 2,830 ($455.17) per metric ton. This was the fourth week in a row of declining prices. Following a 0.6% increase, neodymium finished the week at CNY 356,000 ($57,258) per metric ton. Closing at CNY 223,000 ($35,867) per metric ton for the week, Chinese cobalt cathodes rose by a slight 0.5%. Closing at CNY 15,000 ($2,413) per metric ton, silicon remained unchanged for the week.

US grain-oriented electrical steel (GOES) held steady at $2,742 per metric ton.

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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.