Ferrexpo pellet production in Q1 amounted to 0.9 mt

At the end of Q1 2023, Ferrexpo Group doubled iron ore pellet production to 0.9 mt compared to Q4 2022, when production amounted to 0.42 mt.

The doubling of pellet production is due to an improvement in the situation with the supply of electricity for the Group's enterprises in Ukraine. This, in particular, made it possible to restart the second line of regional committees at the end of February 2023.

At the same time, on an annual basis, quarterly production decreased by 65% ​​(2.7 million tons in 1Q2022) due to operational and logistical constraints that have arisen since February 2022.

Sales in Q1 2023 amounted to 0.85 mt. Products were delivered to European customers by rail and barges.

The company intends to continue to operate one or two lines during the next quarter, assuming that there will be no further significant changes in working conditions and availability of logistics in Ukraine.