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