Bosnia is in the sights of Ferroglobe as exports of silicon metal increase. The surge in exports is most noticeable in the EU where silicon exports rose from 15,918 mt in 2015 to 21,303 mt in the first eight months of 2017. Worse, the average price of the Bosnian exports was only E1,689 per mt in the first eight months of 2017 vs. an EU average, which includes Bosnia, of E1,737. The average price of Bosnian silicon metal was E2,068 in 2012 while the EU average imports price was E2,108.
The value of Brazilian exports were E1,953 pear mt, with only China lower than Bosnia with an average price of E1,613 but then the EU penalty duty of a little less so than 20% would have to be added to the final price.
In the US imports of Bosnian silicon metal rose to 2,650 mt in the first 10 months of 2017 vs. 83 mt for all of 2016.
Insiders say Ferroglobe might pursue the dumping case in Europe without the direct assistance of Euroalliages, the ferroalloy producers’ group.