Ferroglobe Silicon Shipments Fall as European Plants Face Import Pressure

Ferroglobe

Ferroglobe silicon shipments fell in the first quarter after the company suspended production across its European silicon metal plants in October. The decline shows how weak demand and low-priced imports are reshaping Europe’s silicon metal market.

Ferroglobe silicon shipments dropped by 15.9% year on year to 30,533t in January-March. The company later restarted one of two furnaces at its Anglefort plant in France to maintain an EU operating presence.

Ferroglobe silicon shipments remain under pressure because European production costs are still struggling to compete against lower-cost third-country imports. The company warned that the current market structure is no longer viable during a prolonged period of depressed demand.

The issue is strategically important because silicon metal supports aluminium alloys, silicones, solar materials, semiconductors and industrial chemicals. If European smelting capacity continues to close, the region’s downstream industries will become more dependent on imported feedstock.

European Silicon Metal Faces Low-Cost Import Pressure

Ferroglobe said the European silicon metal market remains under pressure from China and Angola. Angola has emerged as a faster-growing supplier into the EU, increasing its market share during the first two months of 2026.

Angola supplied 993t of silicon metal to the EU in February, up by around two-thirds from a year earlier. Its EU market share more than doubled to 3.3% in January-February from 1.5% a year earlier.

This matters because even modest import share gains can influence pricing when demand is weak. European producers with higher energy and operating costs have limited room to absorb lower selling prices.

Ferroglobe has called for the EU to introduce anti-dumping duties on certain third-country suppliers selling at low prices into the bloc. The company made the request after the European Commission excluded silicon metal from last year’s safeguard investigation.

The policy question is now becoming more urgent. Europe wants strategic materials security, but it also needs trade tools that keep domestic production viable when imports undercut regional cost structures.

Without stronger protection or demand recovery, European silicon metal output could remain constrained. That would weaken the region’s ability to support aluminium, chemicals, solar and advanced manufacturing supply chains from local feedstock.

Ferro-Alloy Sales Offset Silicon Weakness

Ferroglobe’s broader first-quarter performance was supported by stronger silicon-based and manganese-based alloy shipments. This helped offset weaker silicon metal volumes.

Shipments of silicon-based alloys rose by 41.6% year on year to 60,674t. The increase was driven by stronger US demand for ferro-silicon.

However, average selling prices for silicon-based alloys fell by 4.9% to $2,016/t. Competitive conditions in the US and South Africa limited pricing power despite stronger volumes.

Manganese-based alloy sales also improved sharply. Shipments rose by 27.5% to 85,743t, supported by recently implemented safeguard measures.

The average selling price for manganese-based alloys increased by 12.8% to $1,250/t because of higher European prices. This shows how trade measures can directly support pricing when regional supply protection is in place.

Ferroglobe’s total sales rose by 13.2% year on year to $347.7mn. The increase came from higher silicon-based and manganese-based alloy volumes, along with stronger manganese alloy pricing.

Adjusted earnings before interest, taxes, depreciation and amortisation increased by 112.5% to $3.3mn. The improvement was meaningful, but margins remain thin for a company operating in volatile alloy and silicon markets.

The company is also considering reopening operations in Venezuela. Those assets are close to the US market and could benefit from low-cost energy, raw materials and favourable logistics.

That strategy reflects the changing economics of ferro-alloy and silicon production. Energy cost, trade access, import protection and proximity to customers are becoming more important than legacy European capacity alone.

The Metalnomist Commentary

Ferroglobe’s results show that Europe’s silicon metal problem is not only weak demand; it is structural cost exposure against lower-priced imports. If the EU wants domestic critical industrial material capacity, silicon metal may need the same policy seriousness now being applied to batteries, magnets and semiconductors.