Ferroglobe’s statement on ITA decision

Ferroglobe welcomes the Department of Commerce’s (“DOC”) final determinations in the U.S. antidumping and countervailing duty actions against silicon metal imports from Australia, Brazil, Kazakhstan, and Norway.

The DOC initiated its investigations in response to a petition filed by Globe Specialty Metals, Inc., a subsidiary of Ferroglobe, alleging that the imports from Australia, Brazil, and Norway were being dumped (sold at unfairly low import prices) and that the imports from Australia, Brazil, and Kazakhstan were being unfairly subsidized.

The DOC issued affirmative antidumping determinations covering the imports from Australia, Brazil, and Norway with the following duty rates (compared to the preliminary rates issued in October 2017):

Country Producer Final Duty Rate Preliminary Duty Rate
Australia Simcoa: 51.28%.                 20.79%
All others:              41.73 %.                20.79%
Brazil Palmyra:     68.97%.                56.78%
LIASA:                   134.92%               134.92%
All others:               68.97%                56.78%
Norway Elkem:        3.22%                  3.74%
All others:                  3.22%.                 3.74%

The DOC also issued affirmative countervailing duty determinations covering the imports from Australia, Brazil, and Kazakhstan, with the following duty rates:

Country Producer Final Duty Rate Preliminary Duty Rate
Australia Simcoa:               14.78%.      16.23%
All others:                             14.78 %.     16.23%
Brazil Palmyra:                      2.44%.        3.69%
LIASA:                                    52.51%.      52.07%
All others:                                2.44%.        3.69%
Kazakhstan Tau Ken Temir: 100.00%  120.00%
All others:                                 100.00% 120.00%

The determinations are likely to be published next week.

On a combined basis, the cash deposit rates resulting from the combined antidumping and countervailing duty determinations are as follows: Australia — Simcoa 66.06% and all other companies 56.51%; Brazil — LIASA 186.00%, Palmyra — 71.31%, all other companies 71.31%; Kazakhstan — Tau-Ken Temir and all other companies 100%; Norway — Elkem and all other companies 3.22%.

Based on official United States import data for 2017, more than 70% of silicon metal imports into the U.S. are covered by these determinations.

The last step in the case will be the U.S. International Trade Commission’s final injury determination. The Commission vote is currently scheduled for March 23, 2018.

Ferroglobe’s Executive Chairman, Javier López Madrid, commented, “We welcome the affirmative final determinations issued by the Department of Commerce and we appreciate their dedicated work on these investigations. These determinations will help ensure that silicon metal imports from Australia, Brazil, Kazakhstan, and Norway will be sold in the United States at fair prices. We remain committed to protecting our operations and workers in the U.S. so that we can compete with foreign producers on a level playing field.”

The DOC’s statement regarding the final determinations will be published at: https://www.commerce.gov/news/press-releases

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