Ferrexpo daily pellet output rises 5% m/m in October
21 November 2018
Ukraine’s largest iron ore pellet exporter Ferrexpo
(FXPO LN, FXPOLN) produced 952 kt of pellets in October, which amounts to 30.7
kt per day, a 4.7% m/m increase, Interfax-Ukraine reported on Nov. 20.
In 10M18, Ferrexpo’s pellet output amounted to 8.71
mmt, a 1.8% yoy increase.
Dmytro Khoroshun: We expect Ferrexpo to produce 10.5-10.6 mmt of pellets in 2018,
resulting in around 29 kt per day and a gain of up to 2% yoy. We retain our
neutral view on FXPOLN Eurobonds.
