Ferrexpo increased total pellet production by 7.4%
Ferrexpo plc, controlling in Ukraine, in particular, Poltava and Ferrexpo yeristovo mining complexes (PGOK and EGOK), in January-March 2020 increased total pellet production by 7.4% compared to the same period of 2019 – up to 2 million 725,33 thousand tons.
According to the press release, published at the company, for a specified period, the total production of pellets with 65 per cent iron content (premium pellets Ferrexpo Premium Pellets, FPP and premium pellets Ferrexpo plus Ferrexpo Premium Pellets plus FPP+) amounted to 2,652 million tons (growth by 9.1%), with 62%NYM (base pellets Ferrexpo Basic Pellets, FBP) – of 73.33 thousand tonnes (down by 31.8%). In the first quarter production of pellets from third party materials, was not carried out.
it is Expected that sales in the first quarter of 2020 will be 2.8 million tons compared to 2.6 million tonnes in the first quarter-2019 (growth by 7.7%).
"To the production in the first quarter was affected by the virus COVID-19. Ferrexpo continues to take active measures to protect our workforce and the local population from the spread of the virus," - stated in a press release.
As reported, Ferrexpo in 2019, reduced the total pellets production by 0.8% compared to 2018 – 518,95 to 10 million tons. The total production of pellets with 65 percent iron content (premium pellets Ferrexpo Premium Pellets, FPP and premium pellets Ferrexpo plus Ferrexpo Premium Pellets plus FPP+) amounted to 10 million 116,12 thousand tons (an increase of 1.9%), with 62% ethyl (base pellets Ferrexpo Basic Pellets, FBP) – 402,83 thousand tons (down 41%). Including the production of pellets with 65 per cent iron content from own sources amounted to 10 million 116,12 thousand tonnes (up 3%), with 62% m – 402,83 thousand tons (down 41%). In 2019 the production of pellets from third party materials, was not carried out, while in 2018 it produced 101 thousand tons of pellets.
Ferrexpo is a Swiss iron ore company with assets in Ukraine. The main activity is the manufacture and export of high quality iron ore pellets used in steel production. Ferrexpo group is the largest producer and exporter of pellets among the countries of the former USSR. Current production assets – Poltava and Eristovsky GOK. Ferrеxpo plc owns 100% of Ferrexpo AG, which in turn owns 100% shares of Poltava GOK and 100% of the shares by Ferrexpo yeristovo mining. In 2019, the company produced 10.5 million tons of iron ore pellets. The main customers are steel mills from Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, Czech Republic, Turkey, Vietnam and USA. Shares of Ferrexpo is listed on the main market of the London stock exchange under the Ticker FXPO.