Ferrexpo daily pellet output rebounds 25% m/m in October

Ukraine’s largest iron ore pellet exporter Ferrexpo
(FXPO LN) produced around 1,000 kt of pellets in October, which amounts to 32.3
kt per day, or a 25.0% m/m jump, according to Concorde Capital’s analysis of
data reported by Interfax-Ukraine on Nov. 19.

In 10M20, Ferrexpo’s pellet output rose 3.5% yoy to
9.18 mmt, or 30.1 kt per day.

Dmytro Khoroshun: Ferrexpo’s
daily production rate rebounded strongly in October, which is positive.

We are upgrading our expectations for Ferrexpo’s 2020
production volume to 10.7-11.1 mmt (29.2-30.4 kt per day), or 2-6% more yoy.