Business
4Q 2017 pellet production and trading update
4Q 2017 pellet production and trading update.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n \nRNS Number : 3212B Ferrexpo PLC 09 January 2018 \n\n9 January 2018\nFerrexpo plc\n(\"Ferrexpo\", the \"Group\" or the \"Company\")\n4Q 2017 Pellet Production and Trading Update\n2017 trading summary:\n· Total 2017 pellet production 10.4 MT compared to 11.2 MT in 2016 reflecting planned pelletiser maintenance.\n· 4Q 2017 production increased 12% compared to 3Q 2017.\n· Production of high quality 65% Fe pellets represented 95% of total production levels compared to 94% in 2016.\n· 2017 sales volumes approximately 10.4 MT compared to 11.7 MT in 2016 due to production levels.\n· The Group's average received price in 2017 increased significantly compared to 2016, reflecting a 22% increase in the average 62% Fe iron ore fines price and a notable increase in the pellet premium due to strong demand for high quality iron ore products including pellet. \n· The full year average 2017 cash cost of production was approximately US$33 per tonne compared to US$29 per tonne in 2016 due to higher commodity prices impacting input costs, local inflation and lower production levels. \n· The Group's available liquidity (including a new undrawn PXF facility of US$195M) as of 31 December 2017 was circa US$310M compared to US$145M as of 31 December 2016.\n· Net debt as of 31 December 2017 was approximately US$400M compared to US$589M as of 31 December 2016 and is at its lowest level since 2011.\n \n4Q 2017 pellet production:\n \n\n\n\n\n000' tonnes\n\n\nQ4 2017\n\n\nQ3 2017\n\n\nChange\n\n\n\n\n\nYTD 2017\n\n\nYTD 2016\n\n\nChange\n\n\n\n\n%\n\n\n%\n\n\n\n\nPellet production from own ore\n\n\n2,763.18\n\n\n2,492.70\n\n\n10.9\n\n\n\n\n\n10,394.44\n\n\n11,057.61\n\n\n-6.0\n\n\n\n\n - 62% Fe FBP\n\n\n144.20\n\n\n156.60\n\n\n-7.9\n\n\n\n\n\n558.70\n\n\n656.60\n\n\n-14.9\n\n\n\n\n - 65% Fe FPP (incl FPP+)\n\n\n2,618.98\n\n\n2,336.10\n\n\n12.1\n\n\n\n\n\n9,835.74\n\n\n10,401.01\n\n\n-5.4\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nProduction from third party materials\n\n\n28.02\n\n\n0.00\n\n\n-\n\n\n\n\n\n49.56\n\n\n142.99\n\n\n-65.3\n\n\n\n\n - 62% Fe FBP\n\n\n0.00\n\n\n0.00\n\n\n-\n\n\n\n\n\n0.00\n\n\n9.00\n\n\n-100.0\n\n\n\n\n - 65% Fe FPP\n\n\n28.02\n\n\n0.00\n\n\nn/a\n\n\n\n\n\n49.56\n\n\n133...