Elkem curtails ferrosilicon production in Norway and Iceland

Oslo, 20 October 2025

Elkem ASA has decided to partially curtail ferrosilicon production at the plants in Rana, Norway and in Iceland due to challenging market conditions. The curtailment may result in temporary layoffs of employees.

"We have decided to temporarily curtail production due to ongoing weak market conditions in Europe, which has led to rising inventory levels and lower prices. Following the European Union's investigation into potential safeguard measures on imports of ferrosilicon and ferroalloys, uncertainty has increased further. We will we use the shutdown to reduce our inventories and support a better market balance," says Elkem's Senior Vice President for Silicon Products, Inge A. Grubben-Strømnes.

"The challenging global market conditions highlight the critical need for competitive, predictable framework conditions and continued access to the EU market for Norwegian industry," adds Grubben-Strømnes.

The core product at Rana and in Iceland is ferrosilicon (FeSi), which is a critical raw material for the steel industry.

For further information, please contact:

Marianne Stigset VP Corporate Communications & Public Affairs Tel: +47 411 88 482 Email: marianne.stigset@elkem.com

About Elkem

Elkem is one of the world's leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,200 people has a joint commitment to stakeholders: Delivering your potential. In 2024, Elkem achieved an operating income of NOK 33 billion. Elkem has been awarded top score of A on Forests and Water Security, and B on Climate Change from CDP. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the company is also included in the ESG Index. www.elkem.com