The increase in revenues was partly due to higher product volumes in its magnetic materials and alloys segment, the company says.
During the third quarter, Molycorp sold 3,620 mt of product at an ASP of US$41.18 per kilogram, and generated a gross loss of US$17.8 million. This compares to volume sales of 3,039 mt at an average sales price of US$45.04 per kilogram and a gross loss of US$18.5 million during the second quarter of 2013.
In the magnetic materials and alloys segment, the volume of Magnequench bonded Neo Powders and other alloys increased 20% from the second quarter. Pricing decreased 9% to drive revenues to $72.6 million, a 10% increase over the same period.
