Ferroglobe PLC (NASDAQ: GSM) in the first quarter of FY 17 has reported the net sales of $388.2 million, flat from $386.8 million in the fourth quarter 2016. The selling prices for GSM’s key products has continued to improve over the course of the first quarter across both the U.S. and Europe. The average selling price for manganese alloys increased as much as 46% from Q4 2016.The average selling price for silicon-based alloys increased 10% from Q4 2016. The average selling price for silicon metal has remained flat from Q4 2016. A now-resolved strike at a large customer and rollover of below-market contract prices from Q4 2016 had negatively impacted the average selling prices in the quarter. The market prices have increased in North America, and the company is now starting to benefit from this improvement.

Moreover, Ferroglobe in the first quarter has posted the net loss of $8.1 million and the loss per share of $0.04 on a fully diluted basis. GSM’s EBITDA grew 257% to $26.6 million for Q1 2017, excluding the non-core Energy division compared to adjusted EBITDA of $7.5 million in Q4 2016.

Meanwhile, Ferroglobe has on February 1st, 2017, has entered into a definitive agreement to sell the hydro-electric operations of its non-core Energy division in Spain for estimated gross cash proceeds of €255 million. The company had made progress during Q1 2017 to gain further support, and during the month of May has filed all the formal requests with the relevant governmental authorities in order to obtain the necessary regulatory approvals.

On the other hand, regarding the ongoing trade cases Ferroglobe filed in Canada and the U.S., the respective government agencies have decided to move forward with their investigations, due to the result of favorable first milestones. On May 16th, 2017, the CBSA exercised an extension for 45 days to complete its review for this phase of the investigation. The preliminary determinations for anti-dumping and countervailing duties will now take effect on or around July 5the, 2017. Further, GSM expects that the U.S. Department of Commerce will make preliminary determinations on countervailing duties in the third quarter, and on anti-dumping duties early in the fourth quarter of 2017.

Ferroglobe stock generated over 9.7% this morning (as of 12:43PM EDT; Ssource: Google Finance). According to tipranks.com, GSM has an average price target of $13.50.