GlobeNewswire Inc | Dec 1, 2020 09:00AM EST

December 01, 2020

MIAMI, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Globe Specialty Metals, Inc. (GSM), a subsidiary of Ferroglobe PLC (NASDAQ: GSM), and Mississippi Silicon LLC (MS), together representing the majority of American silicon metal production, welcomed news on November 30th that the U.S. Department of Commerce ("Commerce") will impose preliminary duties of 120% on all silicon metal imports fromKazakhstan.

The announcement is part of ongoing investigations of unfairly-traded silicon metal imports from Bosnia and Herzegovina, Iceland, Malaysia and Kazakhstan. The U.S. International Trade Commission (ITC) has preliminarily determined that imports from these four countries are a cause of material injury to the U.S. industry.

"Unfair trade practices by foreign suppliers have been an ongoing challenge for our industry," saidMarco Levi, Chief Executive Officer of GSM's parent, Ferroglobe. "These duties will facilitate normalization of the U.S. market as the government responds to unfairly-traded imports. We appreciate the diligent efforts by the Commerce Department in this investigation."

OnJune 30, 2020, GSM and MS filed petitions to stop silicon metal producers inBosnia and Herzegovina,Iceland,MalaysiaandKazakhstanfrom selling dumped and unfairly subsidized silicon metal imports intothe United States. In their petitions, the companies asked the Commerce and ITC to impose duties on to offset unfair pricing and unfair subsidies.

Following this announcement, preliminary determinations will be announced in theBosnia and HerzegovinaandIcelandinvestigations onDecember 8, 2020, and in theMalaysiainvestigation onJanuary 27, 2021.

"Today's decision appropriately recognizes the challenges our industry has faced in recent years as a result of dumped and subsidized imports," saidEddie Boardwine, Chief Operations Officer of MS. "We appreciate the government's efforts to respond to unfair trade practices and look forward to seeing conditions in the U.S. market improve in the near future."

Silicon metal is an important element added to various grades of aluminum alloys used in performance applications such as automotive components and aerospace products. Silicon metal also is a critical raw material in the production of silicone compounds used in numerous products including sealants, adhesives, rubber gaskets, caulking compounds, lubricants, food additives, coatings, polishes, and cosmetics, among others. In addition, silicon metal is the base material in the production of polysilicon, a purified form of silicon used in solar cells and semi-conductors.

About Globe Specialty Metals

Globe Specialty Metals, Inc.is a wholly-ownedU.S.subsidiary ofFerroglobe PLC, one of the worlds leading suppliers of silicon metal, silicon- and manganese- based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. Through its subsidiaries, GSM owns metallurgical manufacturing facilities and other operations in Ohio,West Virginia, New York, Alabama, Indiana, Florida andKentucky.

INVESTOR CONTACT:Gaurav MehtaExecutive Vice President - Investor Relationsinvestor.relations@ferroglobe.com

MEDIA CONTACT:Cristina Feliu RoigExecutive Director Communications & Public Affairscorporate.comms@ferroglobe.com