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Ferrexpo daily pellet output rises 4% m/m in November

Ferrexpo daily pellet output rises 4% m/m in November

2 January 2019

Ukraine’s largest iron ore pellet exporter Ferrexpo
(FXPO LN, FXPOLN) produced 961 kt of pellets in November, which amounts to 32.0
kt per day, a 4.3% m/m increase, Interfax-Ukraine reported on Dec. 28.

 

In 11M18, Ferrexpo’s pellet output amounted to 9.67
mmt, a 2.0% yoy increase.

 

Dmytro Khoroshun: We expect
Ferrexpo to produce around 10.6 mmt of pellets in 2018, resulting in around 29
kt per day and a gain of 1-2% yoy. We retain our neutral view on FXPOLN
Eurobonds.

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