StockMarketWire.com - Iron ore company Ferrexpro reported a fall in annual sales as iron ore production was flat following maintenance work, though output improved toward the end of the year.

Full-year sales volume fell to 11.3 million tonnes, a 6% decrease year on year as production of iron ore pellets increased 0.5% to 11.2 million tonnes in 2021 following 'disruptions during the year for pelletiser upgrade work.'

Quarterly iron ore pellet production, however, increased 18% quarter on quarter to 3.1 million tonnes in the fourth quarter, reflecting the resumption of all four pelletiser lines following upgrade work in previous quarters, the company said.

'With the successful completion of a number of pelletiser upgrades, we are now in a strong position to grow our production base in the year ahead, both in terms of production volumes and product grades, with a positive outlook ahead for premium grade iron ore pellets,' it added.


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