CHICAGO New York-based Globe Specialty Metals Inc. said
it has high hopes for market opportunities that could result
from a trade complaint the company filed last month against
Chinese silicon shipped to Canada.
Assuming we succeed, we would then open up an additional,
commercially viable market free of dumped product and
essentially expand the North American market by almost 10
percent, executive chairman Alan Kestenbaum said during a
conference call May 7.
The Canadian government has initiated an anti-dumping and
countervailing duty investigation into imports of Chinese
silicon following a complaint by Bécancour,
Quebec-based Quebec Silicon LP, which is majority-owned by
amm.com, April 23
Kestenbaum also hinted that the company might be mulling other
actions. While we think the stage is being set for more
robust times generally, we are not going to sit idly by waiting
for a worldwide recovery to adjust that imbalance, he
In the United States, demand is fine, Kestenbaum
added, but in Europe, demand remains weak, leading to what he
described as modest supply and demand imbalances.
In general on the price front, Globe expects prices to be flat
in its fiscal fourth quarter compared to the third quarter,
according to chief executive officer and chief operating
officer Jeff Bradley. He noted that while roughly 80 percent of
the companys order book is filled up with contract
business, the remainder is reserved for the spot market.
Bradley said that he hopes current silicon prices represent the
low point of the market and predicted that tags
should move higher by the end of the year.
spot silicon price decreased to a range
of $1.23 to $1.27 per pound last month (
amm.com, April 3