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Ferrexpo reduced the production of commercials by 39% due to the VAT lock

Ferrexpo reduced the production of commercials by 39% due to the VAT lock

Mining company Ferrexpo plc's main assets in Ukraine in January-September of this year produced 2 million 808,594 thousand tons of rolled products, which is 38.5% lower than the same period last year (4 million 567,168 thousand tons).

According to the company's press release on Monday, the total production of marketable products (rolled products and iron ore concentrate) for the 9 months to 2025 increased by 0.9% to 5 million 67,888 thousand tons. In particular, the production of commercial concentrate amounted to 2,259,294 thousand tons against 457,264 thousand tons, respectively. The company also, in particular, produced 81.787 thousand tons of dry rolling (for 9 months - 2024 – 326.168 thousand tons), 2 million 726,807 thousand tons of premium rolling (a decrease of 35.7%).

The press release notes that due to the ongoing suspension of VAT refunds, the total amount of VAT withheld now stands at $47 million. Due to the reduction of financial liquidity that has arisen in

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