|
Summary:
-
COVID-19
update: Ferrexpo’s operations and
logistics continued to
operate with
minimal impact
during 2Q 2021.
-
Total iron
ore pellet
production of
2.8 million tonnes
(“Mt”) in
2Q 2021,
representing a 5%
increase quarter
on quarter
and in
line year
on year
(-0.8%), with
quarterly growth
reflecting the
successful completion of
pelletiser upgrade work
during the
prior period.
-
Upgrade
work on
the third
pellet line,
out of
four pellet
lines overall,
completed at the
end of
June 2021.
-
A final
pelletiser line upgrade
is planned
for 3Q
2021, with
the Group’s
overall pelletiser
capacity to
increase by
0.5-1.0Mt per
annum following
completion of this
work.
-
Production
of high-quality pellets (65% Fe
and 67%
Fe) represented
100% of
total pellet
output in
2Q 2021 (2Q
2020: 99%).
-
The Group
continues to develop
its offering
of direct
reduction (“DR”) 67%
Fe pellets,
with this
pellet type
representing the
pathway to
low-carbon steel
production. In
the first
half of 2021, the
Group signed
its first
long term
contract for
the supply of
DR pellets,
with further
trial shipments
and samples
for testing
dispatched to additional
prospective customers.
-
Additional production of 85,000 tonnes
of high-grade concentrate for sale in 2Q 2021, relating to the
commissioning and ramp up of the Group’s
concentrate stockyard project,
an investment
that enables
the continued
production of concentrate
during periods
of pelletiser maintenance and
upgrade work.
-
Total sales
volumes of
5.6Mt in
1H 2021, broadly in line
with production
for the
period, and
a 9% reduction
year on
year as
a result
of the
stockpile drawdown process carried out
in 1H
2020.
|
(000' tonnes, unless stated otherwise) |
Product Grade |
2Q |
vs 1Q 2021 |
vs 2Q 2020 |
6M |
vs 6M 2020 |
|
2021 |
2021 |
|
Total commercial production (comprising pellets & concentrate) |
|
2,934 |
6% |
2% |
5,712 |
2% |
|
Pellet production |
|
2,849 |
5% |
-0.80% |
5,563 |
-0.60% |
|
Pellet production comprised of: |
|
|
|
|
|
|
|
o Direct Reduction (“DR”) Pellets* |
67% Fe |
85 |
70% |
-13% |
135 |
-28% |
|
o Ferrexpo Premium Pellets |
65% Fe |
2,764 |
4% |
0.50% |
5,428 |
2% |
|
o Ferrexpo Basic Pellets |
62% Fe |
- |
- |
-100% |
- |
-100% |
|
Commercial concentrate production |
67% Fe |
85 |
31% |
- |
149 |
- |
Note: all production shown in table above from own ore; no production
from third party materials.
* Please note that the above figure for DR pellet production in 1Q 2021
has been adjusted to reflect an additional 14kt of production in 1Q
2021, with production of 65% Fe production adjusted down by the
corresponding amount. The total volume of pellet production remains
unchanged for this period. |
(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837 18725550282) |
