In March, Ferrexpo increased exports by rail and Danube to 24 000 t per day

In March, Ferrexpo increased its exports of products through the Danube ports and by rail to 24 000 tons per day, the Minfin reports citing Concorde Capital’s analyst Dmytro Khoroshun.

After a full-scale invasion of the Russian Federation into the territory of Ukraine started, the company stopped pellets export. At the same time, the shipment of products to the warehouse continued. Despite the difficulties, Ferrexpo was looking for new supply chains.

“In March, Ferrexpo increased exports through the Danube ports and railways to 24 000 tons per day. For comparison, in the first quarter of this year, about 30 000 tons per day were exported on average. That is, the company is already close to its usual indicators,” said Dmytro Khoroshun.

Earlier GMK Center reported that in Q1 2022, Ferrexpo produced 2.7 million tons of pellets, equals what was produced in the same period in 2021 and 11% lower than in the Q4 of last year. During the same period, the company’s sales amounted to 2.6 million tons.

Ferrexpo is a Swiss iron ore company with assets in Ukraine. It produces and exports high quality iron ore pellets for steel production. The Group is the largest producer and exporter of pellets in the post-Soviet space.

In 2021, the company maintained the production of commercial pellets at the level of 2020 – 11.2 million tons.