Ferrexpo daily pellet output slides 5% m/m in August
13 September 2018
Ukraine’s largest iron ore pellet exporter Ferrexpo
(FXPO LN, FXPOLN) produced 868 kt of pellets in August, which amounts to 28.0
kt per day, a 4.8% m/m decrease, Interfax-Ukraine reported on Sept. 13.
In 8M18, Ferrexpo’s pellet output amounted to 6.88
mmt, a 2.4% yoy increase.
Dmytro Khoroshun: We expect Ferrexpo to produce 10.5-10.8 mmt of pellets in 2018,
resulting in 29-30 kt per day and a gain of up to 3% yoy. We retain our neutral
view on FXPOLN Eurobonds.
