Swiss ferrous pellet maker Ferrexpo announced a 5pc increase in production in both Q2 and H1 2020. Pellet sales rose 21pc in H1 2020.
According to the company’s news release on July 7, activity at its facilities have continued with minimal disruption from the pandemic. COVID-19 infection rates in the company’s local community remain low.
In Q2, Ferrexpo produced 2.87mn mt of iron pellets, increasing by 5.4pc from 2.72mn mt during the prior-year period. Through the first half of the year, production stood at 5.6mn mt, increasing by 4.6pc from 5.35mn mt from H1 2019.
Sales rose by 21pc from 5mn mt in H1 2019 to 6.1mn mt for the first six months of 2020. The company said this was the result of stockpile liquidation.
Ferrexpo sources its raw material from ores mined at the Belanovskoye mine in Poltava, Ukraine, which produces 6mn mt of iron ore per year. It is the third-largest global supplier of iron pellets, with an 8pc market share in the steel sector.