Ferrexpo plc, third largest exporter of pellet in the global market has released its first quarter CY19 results. The company recorded pellet production at 2.54 MnT in Q1 CY19, down 11% as compared to 2.85 MnT in Q4 CY18. On yearly basis, production dropped marginally against 2.59 MnT in Q1 CY18.
For Q1 CY19 the total pellet production of 2.54 MnT is produced by ore owned by the miner, as against 2.76 MnT in Q4 CY18.
FY19 Guidance: The group expects the FY19 production guidance to be in line with that of FY18 at 10.6 MnT due to ongoing maintenance.
The company’s sales volume were affected in 2018 amidst reduced barge shipments given the low water levels on the Danube River in 2H 2018. Also, slower than expected rail shipments in Dec’18 added to it. However, the company expects the volumes to be recovered in H1CY19.
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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