Ferrexpo Pellet Production Up 7% Y-o-Y in Q1 CY20

Ferrexpo plc, third largest exporter of pellet in the global market has released its Q1 CY20 results today. The company recorded pellet production at 2.7 MnT in Q1 CY20, up 7% as compared to 2.54 MnT in Q1 CY19. On a quarterly basis, output picked up 4% as compared to 2.63 MnT in Q4 CY19. As per company reports the output for the quarter remains unaffected by the COVID-19 virus.

High grade pellet production up 9% in Q1CY20
Out of the total 2.7 MnT pellets produced, 2.65 MnT of pellets were of high grade ore i.e 65% Fe pellet, up 9% as compared to 2.43 MnT in Q1 CY19. On quarterly basis, output picked up 5% as against 2.54 MnT in Q4 CY19.

The total pellet sales for the first quarter CY20 (Q1CY20) is expected at around 2.8 MnT as against 2.6 MnT in Q1CY19.

Ferrexpo is 3rd largest pellet exporter to global industry with a 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.