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Elkem ASA ( (ELKEF) ) has provided an announcement.
Elkem ASA announced a partial curtailment of ferrosilicon production at its plants in Rana, Norway, and Iceland due to weak market conditions in Europe. The decision, which may lead to temporary layoffs, aims to address rising inventory levels and lower prices. The European Union’s investigation into safeguard measures on imports of ferrosilicon has added to market uncertainty. This move underscores the need for competitive framework conditions and access to the EU market for Norwegian industry.
The most recent analyst rating on (ELKEF) stock is a Hold with a NOK25.60 price target. To see the full list of analyst forecasts on Elkem ASA stock, see the ELKEF Stock Forecast page.
More about Elkem ASA
Elkem is a global leader in advanced silicon-based materials, focusing on developing silicones, silicon products, and carbon solutions. The company supports innovations in electric mobility, digital communications, and sustainable urban development. With a history dating back to 1904, Elkem operates with a global team of over 7,200 employees and reported an operating income of NOK 33 billion in 2024. It is recognized for its environmental efforts and is listed on the Oslo Stock Exchange.
YTD Price Performance: 64.01%
Average Trading Volume: 1,181,773
Current Market Cap: NOK17.86B
See more data about ELKEF stock on TipRanks’ Stock Analysis page.