Ferroglobe is set to idle almost one-fifth of its silicon metal production capacity in Europe and the United States, cutting it to an annualized rate of 341,000 tonnes from 417,000 tonnes, because of the weaker prices seen this year.
The UK-based metals company is planning to idle 36,000 tonnes per year of production capacity in the US. This will be done its plant at Selma, in the state of Alabama, affecting two furnaces, and another furnace at its plant in Beverly, Ohio.In Europe, it plans to cut 40,000 tpy of capacity at its plants in France, with two furnaces being idled in the southwest...