Renewables MMI: Renewables Basket Metals Down Across the Board

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Chris Titze Imaging/Adobe Stock

The Renewables Monthly Metals Index (MMI) lost one point this month, falling for an October MMI reading of 103.

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Rare Earths Removed From Final Tariff List

The U.S. Trade Representative’s office announced a list of Chinese products worth $200 billion that would be targeted for tariffs, a list that included a number of important materials for high-tech applications (including cobalt, cobalt oxides, cobalt sulfates and cobalt chlorides).

The final list, however, which went into effect late last month, did not include a number of rare earths materials that showed up on the original list.

However, a number of cobalt products remained on the final list.

Harnessing the Power of the Sea

As interest and demand in renewable energy continues to grow, so, too, is innovation in the field.

Physics World recently reported on the development of a device that serves to triple the amplitude of a water wave.

According to the report, the circular device deploys vertical metal sheets to concentrate the wave in a shallow space.

Renewable Momentum

Speaking of interest in renewable energy, a Stratfor report surveys the rise in interest at the corporate level.

While listing corporations that have announced intentions to shift toward renewable energy (or have already done so), the report name drops a couple of metals industry players.

“For instance, metals giant Alcoa sources 75 percent of the energy required for its smelters from renewables, while mining giant Rio Tinto acquires just under half of its energy from such sources,” the report states.

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Actual Metal Prices and Trends

Japanese steel plate fell 2.1% to $755.73/mt. Korean steel plate fell 0.2% to $675.67/mt. Chinese steel plate also posted a slight drop, falling to $716.11/mt.

U.S. steel plate fell 0.5% to $992/mt.

U.S. grain-oriented electrical steel coil dropped 10.3% to $2,478.

Chinese neodymium fell 0.4% to $59,311.60/mt. Chinese silicon also fell, down to $1,499.17/mt. Chinese cobalt cathodes fell 0.4% to $96,790.80/mt.

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