Ferrexpo plc, third largest exporter of pellet in the global market has released its third quarter CY19 results. The company recorded pellet production at 2.54 MnT in Q3 CY19, down 10% as compared to 2.81 MnT in Q2 CY19. On yearly basis, production dropped 5% as against 2.66 MnT in Q3 CY18.
For CY19 (Jan-Sep), the total production increased marginally to 7.89 MnT as compared to 7.74 MnT in CY18 (Jan-Sep). Out of the total 7.89 MnT, 96% of total (7.58 MnT) stood high grade pellet i.e 65% Fe pellet, up 5% Y-o-Y while remaining 0.31 MnT stood Fe 62% pellet.
Ferrexpo cuts FY19 Guidance:
The group reduced the FY19 pllet production guidance to 10.4-10.6 MnT, against previously laid guidance at 10.6 MnT.
In 2018, Ferrexpo group produced 10.6 MnT pellet, up 2% against 10.4 MnT in CY17. Ferrexpo is 3rd largest pellet exporter to global industry with market share of around 8.5%. The company’s supplier base includes Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey and Vietnam.
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