AMM.com Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5


Globe optimistic on Canadian silicon trade case

Keywords: Tags  Globe Specialty Metals, Alan Kestenbaum, Jeff Bradley, earnings, third quarter, 2013, silicon, ferrosilicon prices


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 Globe (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 said.

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 company’s 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.

AMM’s spot silicon price decreased to a range of $1.23 to $1.27 per pound last month (amm.com, April 3).

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.



Latest Pricing Trends