A conditional share sale agreement (SSA) has been signed between CMS and OMS, according to CMS’ filing with Bursa Malaysia.

Since the beginning of this year, foreign demands for Chinese ferrosilicon increased significantly.

Chinese producers want to cut production volume in order to save price dropping in this week.

OMS is a 100% owned subsidiary of OMH and SISB is a 100% owned subsidiary of Cahya Mata Sarawak Berhad (“CMS”) (BURSA: CMSB-2852).

For the quarter ended 31 March 2022, production volumes for FeSi and manganese alloys decreased by 6.1% and 3.0% respectively as compared to the previous quarter.

South Korea ferrosilicon (silicon≤55%) imports increase 31.91% in March 2022.

South Korea ferrosilicon (silicon>55%) imports increase 64.88% in March 2022.

Despite limited supply, suppliers are worried that prices will fall because trading activity is still low.