Ferrexpo increases pellet output 1.0% mom in August

Ferrexpo (FXPO LN) said in a monthly production report issued yesterday that it produced 762.7 ths mt of pellets in August, an increase of 1.0% mom, but a decrease of 9.3% yoy. Ferrexpo has made 5.66 mln mt of pellets in 8M09, a decrease of 9.6% yoy. The company said it continued to produce at full capacity in August, which it has done since March. Andriy Gerus: We continue to forecast stable production for the company in coming months, backed by strengthened demand from steelmakers.