Ferroglobe, R.I.P.

It’s official, Ferroglobe, aka GSM and Ferroatlantica, withdrew its EU silicon metal dumping case against Brazil and Bosnia. 

After failing to get dumping determinations in Canada and the US it shouldn’t come as a surprise. “The whole dumping strategy was a farce and a crude attempt at getting the governments to grant it a monopoly,” one analyst said. “There never was injury and now Ferroglobe is going to pay! What buyer will do business with the company now?”

Also it was a victory for Euroalliages since Ferroglobe chose to go it alone without the backing of the group.

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