Ferrexpo’s iron pellet production was 10.5mn mt in 2019, down by 1pc from the year prior. The company’s iron pellet production was 10.6mn mt in 2018.
Ferrexpo posted 10.3mn mt in sales of iron pellets in the year, up by 1pc from 10.2mn mt in 2018. The decline in production was a result of weakened demand in the global markets, especially China. The country’s trade dispute with the US affected Chinese steelmakers.
Demand for steel in China is projected to be 981mn mt in 2020, according to the Metallurgical Industry Planning and Research organisation of China. The country’s demand for steel in 2019 was 875mn mt.