October 8, 2019 / 7:00 AM / 8 months ago

Ferrexpo lowers annual iron ore pellet production outlook

Oct 8 (Reuters) - Ferrexpo Plc, the third-largest pellet exporter in the global steel industry, on Tuesday said it expects its annual iron ore pellet production to be at the lower end of its earlier forecast of 10.6 million tonnes.

Switzerland-based Ferrexpo, which has major assets in Ukraine, said annual pellets production is likely to be in the range of 10.4 million tonnes to 10.6 million tonnes, compared with its previous guidance of 10.6 million tonnes.

The company, which exports to Europe and Asia, said its third-quarter total pellet production came in at 2.5 million tonnes, lower than 2.8 million tonnes in the previous quarter. (Reporting by Shanima A in Bengaluru, Editing by Sherry Jacob-Phillips)

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