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Ferrexpo Decides To Lower Short Term Production Schedule For The Summer Months

Ferrexpo plc (FXPO.L) said the Group has recently been notified of further infrastructure damage as a result of a Russian missile strike in southwest Ukraine, which has reduced the Group's ability to use its barging operations that serve European customers. The Group noted that it is in advanced discussions with additional port operators in central Europe for seaborne exports, whilst Ukraine's Black Sea ports remain closed.

As of the end of May 2022, Ferrexpo plc had produced 4.4 million tonnes of iron ore pellets, a level 8% below from last year.

As a result of the damage to infrastructure and increase in inventories of iron ore pellets, the Group will lower production for a period of time.

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