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.