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14 Jul 2009 07:00
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14Β JulyΒ 2009
Q2 Production Report
FerrexpoΒ plc ("Ferrexpo" or the "Group")Β today issues itsΒ production report for the second quarter of 2009 ahead of its half-year results announcement on 5 August.Β
Production Report forΒ Q2Β 2009
|
TonnesΒ '000 |
Q2 |
Q1 |
Change |
Q2 |
Change |
YTD |
YTD |
Change |
||
|
2009 |
2009 |
% |
2008 |
% |
2009 |
2008 |
% |
|||
|
Production from own raw materials |
||||||||||
|
IronΒ Ore |
7,501.4 |
6,192.1 |
21.1Β |
7,229.9 |
3.8Β |
13,693.5Β |
14,361.4Β |
(4.7) |
||
|
Concentrate |
2,702.9 |
2,287.6 |
18.2Β |
2,744.9 |
(1.5) |
4,990.5Β |
5,439.9Β |
(8.3) |
||
|
PelletsΒ |
Β |
Β |
Β |
Β |
Β |
|||||
|
62% Fe |
1,214.4 |
905.9 |
34.1Β |
1,304.7 |
(6.9) |
2,120.3Β |
2,584.1Β |
(17.9) |
||
|
65% Fe |
1,026.0 |
977.4 |
5.0Β |
Β |
967.0 |
6.1Β |
Β |
2,003.4Β |
1,920.3Β |
4.3Β |
|
Pellets Total |
2,240.4 |
1,883.3 |
19.0Β |
2,271.7 |
(1.4) |
4,123.7Β |
4,504.4Β |
(8.5) |
||
|
Production from purchased raw materials / tolling |
||||||||||
|
PelletsΒ |
||||||||||
|
62% Fe |
15.0 |
0.0 |
Β - |
56.4 |
(73.4) |
15.0Β |
91.9Β |
(83.7) |
||
|
65% Fe |
0.0 |
0.0 |
Β 0.0 |
Β |
0.0 |
Β 0.0 |
Β |
0.0Β |
0.0Β |
0.0Β |
|
Pellets Total |
15.0 |
0.0 |
Β - |
56.4 |
(73.4) |
15.0Β |
91.9Β |
(83.7) |
||
|
Β |
Β |
Β |
Β |
Β |
Β |
Β |
Β |
Β |
Β |
|
|
PelletsΒ GrandΒ Total |
2,255.4 |
1,883.3 |
19.8Β |
Β |
2,328.1 |
(3.1) |
Β |
4138.7Β |
4596.3Β |
(10.0) |
Highlights
Total pellet productionΒ roseΒ byΒ 21.1% compared toΒ Q1 2009,Β and by 3.8% compared to the equivalent quarter last year
Ferrexpo produced at fullΒ miningΒ capacity throughout Q2 2009
Higher grade 65% Fe pelletΒ outputΒ increased by 4.3%Β in the first half of 2009Β compared to the same period last year
Sales volume in H1Β 2009Β exceededΒ productionΒ during the period
Production costs continue to trend downwards
Continued highΒ levels ofΒ spot salesΒ to ChinaΒ exposed Ferrexpo to higherΒ freight rates,Β reducingΒ average achievedΒ DAF/FOBΒ prices and margins inΒ Q2
GradualΒ improvement in demandΒ over the first half of the yearΒ in Traditional markets and Ukraine
Ferrexpo traded profitably in the first half of 2009
Kostyantin Zhevago,Β Ferrexpo CEO, said:
"Ferrexpo continued to trade profitably in the second quarter of 2009. Freight rates from the Black Sea toΒ ChinaΒ did put pressure on our average achieved DAF/FOB prices during the period, but this is likely to prove a temporary phenomenon. The outlook for iron ore is improving for the next quarter, particularly in our Traditional markets, which will reduce our reliance on the Asian seaborne spot market to some degree."
Next Update
Ferrexpo willΒ release its results for the six months ending 30 June 2009 on 5 August 2009.Β
For further information, please contact:
Ferrexpo: +44 207 389 8304
Gavin Mackay
Pelham PR +44Β 207Β 337 1538
Charles Vivian
Notes to Editors:
Ferrexpo is a Swiss headquartered resourcesΒ GroupΒ with assets in Ukraine, principally involved in the production and export of iron ore pellets, used in producing steel. CurrentΒ output is over 9 million tonnesΒ per annum,Β mostΒ of which is exported toΒ steelmakers around the world. The Group isΒ listed on the main market of the London Stock Exchange under the ticker FXPO.Β For further information please visitΒ www.ferrexpo.com.
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