Ferrexpo Q2 production rises, sales jump

Swiss iron ore company Ferrexpo recorded a jump in second-quarter production and sales on Tuesday, stating that the Covid-19 pandemic had only a minimal impact on the group.

Ferrexpo produced 2.9m tonnes of iron ore pellets in the second quarter, up 5% on the 2.7m tonnes produced in the first, while overall production came to 5.6m tonnes, also up 5% year-on-year.

The FTSE 250-listed group added that first-half sales volumes were up around 21% to 6.1m tonnes as a result of "de-stocking".

Ferrexpo also highlighted that the coronavirus outbreak had not overly impacted operations given that the infection rate in communities surrounding its operations in Ukraine had remained low.

As of 0910 BST, Ferrexpo shares were up 0.18% at 171.70p.