Ferrexpo plc – third largest exporter of pellets in the global market, released its Q3 CY’20 results yesterday. The company recorded pellet production at 2.5 mn t in Q3 CY’20, down 12% as compared to 2.9 mn t in Q2 CY’20. The drop in volumes is due to planned pelletiser maintenance in early Sep’20.
During 9M CY’20 (Jan-Sept’20), output picked up 3% y-o-y and stood at 8.1 mn t as compared to 7.9 mn t in 9M CY19. As per company reports, the impact of COVID-19 remains minimal on the company’s operations.
Entire output for the quarter Q3 CY’20 comprised of high grade pellets
The entire pellet output of 2.5 mn t pellets for the quarter Q3CY20 stood high grade ore i.e 65% Fe pellet The output picked up 6% for CY20 (Jan-Sep) at 8.03 mn t as against 7.6 mn t in CY19 (Jan-Sep).
The Company’s additional concentrator section was completed in Q3 CY ’20, with commissioning and ramp up of this additional processing capacity to progress in Q4 CY’20.
Ferrexpo is the 3rd largest pellet exporter to global industry with a market share of around 8%. In CY’19, it produced around 10.5 mn t pellets. The company’s supplier base includes Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey and Vietnam.
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