The world’s third-largest pellet producer and exporter, Ferrexpo plc, said, in end-May, the Group produced 4.4 mnt of iron ore pellets, down 8% y-o-y. The Group realised a cumulative 0.4 mnt increase in iron ore inventories in March, April and May. Russia’s invasion of Ukraine has disrupted the country’s railway network, resulting in significant infrastructure damage. Discussions are on with port operators in central Europe for exports, whilst Black Sea remains closed.
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