Ferrexpo Pellet Production Up 11% in Q2 CY19

Ferrexpo plc, third largest exporter of pellet in the global market has released its second quarter CY19 results. The company recorded pellet production at 2.81 MnT in Q2 CY19, up 11% as compared to 2.54 MnT in Q1 CY19. On yearly basis, production increased 12% against 2.5 MnT in Q2 CY18.

For H1 CY19, the total production increased 5% to 5.4 MnT as compared to 5.1 MnT in H1 CY18.

FY19 Guidance: The group reaffirms the FY19 production guidance at 10.6 MnT, in line with FY18 guidance.

Ferrexpo sales expected to increase by 4% in 1H CY'19

The company's sales volume was 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 sales volume for H1 CY19 expected at 5 MnT, up 4% against 4.8 MnT in H1 CY18.

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.