Ferroglobe Stock Price, News & Analysis

Ferroglobe PLC has appointed David Girardeau as Vice President of People and Culture, effective immediately. With over 25 years of international experience, Girardeau is recognized for transforming organizations and developing talent globally. Previously, he served as Vice President of Human Resources at BIC and held various senior roles in renowned companies like Schlumberger. CEO Marco Levi emphasized the significance of this role for unifying Ferroglobe's workforce and navigating the company's transformation efforts. This leadership change is expected to enhance operational excellence and strategic direction.

On February 24, 2021, Globe Specialty Metals (GSM) welcomed the U.S. Commerce Department's decision to impose antidumping and countervailing duties of up to 160% on silicon metal imports from Bosnia and Herzegovina, Iceland, and Kazakhstan. This decision aims to support U.S. businesses against unfair pricing practices. The U.S. International Trade Commission will vote on March 24, 2021, regarding the impact of these imports on the U.S. industry. GSM has actively petitioned for these duties to promote fair competition in the market.

On February 23, 2021, the U.S. Department of Commerce announced final antidumping and countervailing duties of up to 160% on silicon metal imports from Bosnia and Herzegovina, Iceland, and Kazakhstan. This decision follows petitions filed by Globe Specialty Metals and Mississippi Silicon to combat unfair trade practices affecting the U.S. industry. The U.S. International Trade Commission will vote on March 24 to affirm the decision. The effort aims to level the playing field for American manufacturers and protect local economies from injury caused by subsidized foreign imports.

Ferroglobe PLC (NASDAQ:GSM) announced it will release its fourth quarter and full year 2020 financial results after the market closes on March 1, 2021. A conference call to discuss these results is scheduled for March 2, 2021, at 9:00 AM EST. Interested participants can join the call by dialing in or accessing via an audio webcast. Ferroglobe is a leading supplier of silicon metal and specialty alloys, serving multiple fast-growing markets globally.

On November 25, 2020, Ferroglobe entered confidentiality agreements with noteholders regarding its 9.375% Senior Notes due 2022. The discussions focus on obtaining $100 million in additional liquidity through a recapitalization plan, which includes $60 million in new senior notes and $40 million in equity funding. This initiative aims to extend the debt maturity profile and align stakeholders' interests. The CEO emphasized this as a pivotal moment, enhancing the company's balance sheet and operational flexibility. However, success in securing funding remains uncertain.

On January 27, 2021, the U.S. Department of Commerce announced preliminary duties of up to 7.41% on silicon metal imports from Malaysia, following the U.S. International Trade Commission's findings of material injury to the U.S. industry. Globe Specialty Metals and Mississippi Silicon, leaders in American silicon production, filed petitions against unfairly traded imports. The decision is anticipated to enhance U.S. market conditions for silicon metal, a critical component in various industries, including automotive and solar power. Final determinations for other countries will be released on February 21 and June 2021.

On January 27, 2021, Globe Specialty Metals, a subsidiary of Ferroglobe (NASDAQ:GSM), welcomed the U.S. Department of Commerce's decision to impose preliminary duties of 7.41% on silicon metal imports from Malaysia. This move follows an ITC investigation confirming that imports from Malaysia and other countries have harmed the U.S. silicon metal industry. The decision aims to rectify unfair pricing practices and protect domestic producers. Final determinations regarding duties for Malaysia will be made in early June 2021, while other investigations are expected to conclude on February 21, 2021.

Ferroglobe PLC (Nasdaq: GSM) announced it has regained compliance with Nasdaq's minimum bid price requirement, as confirmed by a notification letter from Nasdaq's Listing Qualifications Department. This compliance indicates that Ferroglobe has adequately addressed the previous deficiency regarding the Minimum Bid Requirement and is not required to take further action to maintain its Nasdaq listing.

On December 8, 2020, the U.S. Department of Commerce announced preliminary duties of up to 47.54% on silicon metal imports from Bosnia and Iceland. This decision follows ongoing investigations into unfairly-traded silicon metal imports from multiple countries, including a previous determination of up to 120% duties on imports from Kazakhstan. Officials from Globe Specialty Metals (GSM) and Mississippi Silicon (MS) expressed that these duties will help stabilize market conditions and restore competitive balance. Further preliminary determinations for Malaysia are expected on January 27, 2021.