Things don’t look so good for the silicon market. While US consumers were waiting on the sidelines, some very small business was booked at below $1.33, and a few customers were in the market for offgrade spec silicon just to fill in. “2019 negotiations are going to be tough,” one supplier said. “This year we were in the drivers seat with GSM threatening to close off the market, but now its completely different.”
Chinese prices keep going down on increased availability which puts added pressure on European prices. With the yuan falling against the dollar, exports look increasingly attractive too.
Ferroglobe (GSM) saw its stock price decline to $8.56 per share today, the lowest level since Sept. 9, 2017.