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"1Q 2020 sales are expected to be around 2.8 million tonnes (1Q 2019: 2.6 million tonnes) "
I think the sales are more impressive than the production , given the downturn in China, Germany etc
..and clearly 62% FE is now finished and the customer demand has shifted almost entirely to the pricier but more efficient 65% FE
Even if Zhevago had to sell some of his holding , the shares would be placed and snapped up immediately, with little effect on the SP after the initial changeover IMO
The market overall does seem to be getting a little ahead of itself ....mix of short squeeze and FOMO ......by the looks of things
Summary:
· 1Q 2020 pellet production up 7% to 2.7 million tonnes (1Q 2019: 2.5 million tonnes)
· Production of 65% Fe pellets up 9% to 2.7 million tonnes (1Q 2019: 2.4 million tonnes)
· 1Q 2020 sales are expected to be around 2.8 million tonnes (1Q 2019: 2.6 million tonnes)
· Production in 1Q 2020 was not impacted by the COVID-19 virus. Ferrexpo continues to take active measures to help protect our workforce and local communities against the spread of the virus.
At the last trading update... Refurbishment of pelletising line number 2 completed in 4Q 2019. This is the final line refurbishment of the programme started in 2014.
So no reason why they couldn’t break records this quarter!
7.4% not too bad for a start .. lets see where it finishes
If it was true, would the sp be rocketing?
..it may be a leak from within the company....but ....all that remains to be seen
" I could not resist, too strong data "
Well it isnt much use no matter how "strong " it is ...unless it is an official statement
Facebook FFS
I could not resist, too strong data
" According to a company spokesman Vitaliy Oleinik on Facebook "
Hummmmm, since when did a company spokesman give out details on Facebook before a company RNS announcement ??
Ferrexpo Konstantin Zhevago at a furious pace sends Ukrainian commodity pellets for export
[11:10 April 06, 2020]
The British Ferrexpo plc, which controls in Ukraine, in particular, the Poltava and Yristovsky mining and processing plants (PGOK and EGOK), in January-March of this year, according to preliminary data, increased the production of pellets by 21% compared to the same period last year - up to 3 million tons.
According to a company spokesman Vitaliy Oleinik on Facebook, in March 2020, a record volume of iron ore pellets was shipped from Poltava GOK - 1 million 148.770 thousand tons.
“16,411 wagons. 10 “routes” daily, which is 37 thousand tons, and these are 10 full routes exceed the previous record, which took place in December 2016. In this difficult time for Ukraine, the export of iron ore is the main source of filling the country's budget. Therefore, realizing all responsibility, on a daily, stable basis, without failures and downtime, the staff of PAO Poltava Mining Plant produces, and the SE FERROTRANS transports high-quality pellets to world markets. This is the result of coordinated and operational work of all departments involved in the transportation process, ”says the logistics manager.
As reported, Ferrexpo plc in January-February of this year, according to preliminary data, increased the production of commercial pellets by 13.7% compared to the same period last year - up to 1.924 million tons. During this period, the concentrate output increased by 4.1% to 2.156 million tons.
In February, 947 thousand tons of pellets and 971 thousand tons of concentrate were produced.
It was also reported that Ferrexpo in January-March 2019 produced 2 million 538.7 thousand tons of pellets.
Ferrexpo in 2019 reduced the total production of pellets by 0.8% compared to 2018 - to 10 million 518.95 thousand tons. At the same time, the total production of pellets with 65% iron content (premium pellets Ferrexpo Premium Pellets, FPP and premium pellets Ferrexpo plus - Ferrexpo Premium Pellets plus, FPP +) amounted to 10 million 116.12 thousand tons (an increase of 1.9%), with 62% (basic pellets Ferrexpo Basic Pellets, FBP) - 402.83 thousand tons (a decrease of 41%). Including the production of pellets with 65% iron content from own raw materials amounted to 10 million 116.12 thousand tons (an increase of 3%), from 62% - 402.83 thousand tons (a decrease of 41%).
In 2019, pellets from third-party raw materials were not produced, while in 2018, 101 thousand tons of pellets were produced.
Ferrexpo is a Swiss iron ore company with assets in Ukraine. The main activity is the production and export of high quality iron ore pellets used in steel production.
PGOK is the main asset of the British mining company Ferrexpo plc quoted on the London Stock Exchange: it owns 100% of the shares of Ferrexpo AG, which, in turn, owns 100% of the shares of Poltava GOK, 100% of Yeristovsky GOK and 99.9% of Belanovsky GOK
Production costs may well have reduced in Dollar terms as a result of the weakeng of the Ukranian currency, the production level should have held up reasonably well, but may have adjusted to expected order levels.
They will have had order quotas to fill, but the question is...what happened in March and what happens next ?
China is slowly picking up and Germany is once again receiving export orders. The one bit of progression from China is that after a period with such low pollution levels they may well bring in stronger anti-pollution controls and as such some of their older steel mills could be forced to close and therefore they may well lean more towards the efficient ones that are movin more and more to using 65%FE
Might rally into Tuesday. Looking good so far today.
Due next week. 7th April.