StockMarketWire.com - Iron ore pellet producer Ferrexpo announced an interim 2020 dividend of 6.6 US cents as performance continued 'strongly' with output and sales rising in the first five months of the year.

Pellet production as of 31 May 2020 was up 6% compared to the first five months of 2019, with sales volumes approximately 21% higher on-year.

'Higher sales have been driven by a strong production performance, de-stocking and the group's ability to offset weaker demand in Europe through increased sales to Asia,' the company said.

'The iron ore fines price has remained resilient year to date while lower freight rates and production costs have compensated for weaker pellet premiums,' it added.

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