StockMarketWire.com - Iron ore group Ferrexpo said Tuesday sales volumes for 2018 would come in lower than that of the prior year owing to reduced barge shipments on the Danube River in the second half of the year.

Sales volumes for 2018 were expected to be approximately 10.2m tonnes, below the 10.5m tonnes seen a year earlier, as total pellet production rose just 1.6% to 10.6m tonnes from a year earlier.

In the fourth quarter of last year, total pellet production was up 7.2% to 2.9m tonnes from 2.7m tonnes reported in the third quarter, the company said.

The group's average received price was approximately 9% higher in 2018 compared to 2017, reflecting 'stronger premiums for higher quality iron ore, including higher average pellet premiums, offset by a slightly lower average 62% Fe iron ore fines price and higher international freight rates,' the company added.

Looking ahead, total pellet production in 2019 was expected to be in line with 2018 at 10.6m tonnes, weighed down by ongoing maintenance.


At 8:35am: [LON:FXPO] Ferrexpo PLC share price was -1.45p at 198p



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