Ann: Appendix 3Y - Low Ngee Tong, page-76

With an oncoming recession, my guess is that many smelters would shutter production until there is clearer vision.

while there is an associated cost with shutting down a smelter, i would hardly expect them to operate at a loss for the next several years.

i doubt the cost is that significant. Iemh has already shut down 4 furnaces before.

most importantly, the cost of production for europe for ferrosilicon seems to be in the range of 3k euro.

with prices cratering to below 2k euro its almost impossible that they would choose to continue production. Which they havent, most facilities seem to have shut down. This fall in prices just accelerates the shutdown.

this talk about european incentives seems like something thats pulled out of the air.