5. Revenue
 
  PGM 
US$’000 		 Chrome 
US$’000 		 Agency 
and trading 
US$’000 		 Total 
US$’000 		  
2018          
Revenue          
   Variable revenue based on initial results  110 619  169 092  33 957  313 668    
   Quantity adjustments  254  (1 041) 42  (745)   
   Revenue based on fixed selling prices  –  62 464  915  63 379    
   Freight services  –  19 836  3 622  23 458    
   110 873  250 351  38 536  399 760    
Fair value adjustments  6 508  –  –  6 508    
Total revenue  117 381  250 351  38 536  406 268    
2017                
Total revenue  90 924  252 869  5 650  349 443    
   2018 
US$’000 		    2017 
US$’000 		   
Variable revenue recognised             
PGM revenue recognised in preceding year based on initial results  (28 994)    –    
PGM revenue based on final results  30 823     –    
PGM revenue adjustment recognised in current year  1 829     –    
Chrome revenue recognised in preceding year based on initial results  (41 197)    –    
Chrome revenue based on final results  41 177     –    
Chrome revenue adjustment recognised in current year  (20)    –    

The period ended 30 September 2018 includes PGM revenue of US$42.5 million and chrome revenue of US$48.5 million that was based on provisional results as final prices and surveys were not yet available at the date of this report.