Globe seeing silicon metal demand, pricing rebound
Nov 13, 2009 | 11:19 AM
| Tom Jennemann
Globe Specialty Metals Inc. is having some success in inking 2010 annual contracts due to a rebound in demand for its silicon metal and ferrosilicon products, the company said.
"We're optimistic about the environment that we are seeing in pricing," Jeff Bradley, Globe's chief executive officer, said during a Friday morning conference call. "We have already secured business for 2010 and pricing is trending higher."
Silicon metal is currently in a range of about $1.18 to $1.25 per pound, Bradley said. "We will look to price in that range," he added.
Mal Appelbaum, Globe's chief financial officer, said the company is gaining significantly more traction when negotiating with customers for annual contracts than it did at this time last year. "Well, 2009 was an atypical year in that there were relatively few annual contracts, whereas in 2008 there were quite a few. (At the beginning of this year), customers' visibility was limited; therefore, there weren't many annual contracts," he said.....
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