Ferroglobe plc reported improved revenues for the fourth quarter and fiscal year 2017, which the company attributed to higher prices for silicon metal.
London-based Ferroglobe reported revenue of $468.2 million in the fourth quarter, up 3.7% from $451.6 million in the third quarter. Meanwhile, revenue for the year 2017 was $1.7 billion, up 10.5% from $1.6 billion the previous year. The ferro-alloy and silicon metal producer's average selling price for silicon increased by 4.7% to $2,440 per tonne in the fourth quarter, compared with $2,330 per tonne in the third quarter. Ferroglobe's average selling price for silicon-based alloys also rose by 5.8% to $1,741 per tonne in the quarter, compared with $1,645 in the previous quarter....