Home
/
News
/

Ferrexpo daily pellet output drops 5.6% m/m in December

Ferrexpo daily pellet output drops 5.6% m/m in December

8 January 2019

Ukraine’s largest iron ore pellet exporter Ferrexpo
(FXPO LN, FXPOLN) produced 938 kt of pellets in December, which amounts to 30.3
kt per day, a 5.6% m/m decrease, according to our analysis of the company’s
4Q18 production report released on Jan. 8.

 

In 2018, Ferrexpo’s pellet output amounted to 10.61
mmt, a 1.6% yoy increase.

 

Ferrexpo noted in its report that its 2019 production
volume is expected to be in line with that of 2018 as a result of ongoing
maintenance. The company also provided further details of its 2018 performance:
sales volume of 10.2 mmt (vs. 10.5 mmt in 2017), average received price 9%
higher than in 2017, and cash costs of USD 44 per tonne (vs. USD 33 per tonne
in 2017).

 

Dmytro Khoroshun: Ferrexpo’s 2019 production volume guidance, 10.6 mmt, is below the 11.0 mmt it expected in June, which is slightly negative. We retain our neutral
view on FXPOLN Eurobonds.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...