Economy 2024-07-15T05:27:32+03:00
Ukrainian news
Britain's Ferrexpo Expects 47% Decrease In Pellet Production To 6 Million Tons In 2022

Britain's Ferrexpo Expects 47% Decrease In Pellet Production To 6 Million Tons In 2022

Ferrexpo, pellets, Ferrexpo plc, production of pellets

In 2022, compared to 2021, Ferrexpo plc (United Kingdom), which controls Poltava Mining and Yeristovo Mining (both located in Horishni Plavni, Poltava Region), expects a decrease in the production of pellets by 47% to 5.9-6 million tons.

This is stated in the message of the enterprise on the London Stock Exchange, Ukrainian News Agency reports.

"Following the suspension of operations in October, the group is currently receiving enough electricity to re-launch one pellet production line. This will allow the group, together with the inventory available in warehouses, to meet the requirements of existing customer contracts. As a result of interruptions and instability in the state power grid, which took place in the 4th quarter of 2022, to date, about 0.3 million tons of pellets have been produced in the 4th quarter. Thus, the production of pellets in 2022 is expected to be approximately 5.9-6.0 million tons," the report said.

It is noted that despite the interruptions in production, the shipment to customers in the 4th quarter continued at the level of about 250,000 tons per month.

As Ukrainian News Agency earlier reported, in November Ferrexpo partially resumed production.

For 9 months of 2022 compared to the same period in 2021, Ferrexpo reduced the production of pellets by 31% to 5.6 million tons.

In 2021, compared to 2020, the company increased the production of pellets by 0.02% to 11.22 million tons.

The majority shareholder of the Ferrexpo group is businessman Kostiantyn Zhevaho.

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