Silicon production cuts limit Ferroglobe's Q1 loss

Ferroglobe sold less silicon in metal and alloys in the first quarter of 2020, but at higher prices.

This, combined with cost-cutting initiatives, led to a lower loss, of $49.1 million for the first quarter, than the $75.7 million lost in the fourth quarter of 2019, the London-based company reported this week.
Ferroglobe, the world’s leading silicon supplier, felt the benefit of production cuts made by it and other silicon producers, Marco Levi, chief executive emphasized in a call with investors on Tuesday June 9.

“Despite weaker overall demand in the US and Europe, prices...

Published

Orla O'Sullivan

June 11, 2020

03:43 GMT

New York