Ferrexpo's Q1 iron ore output plunges 72% YoY

Ferrexpo, the Swiss-headquartered, London-listed iron ore producer with operations in Ukraine, saw its iron ore output tumble 72% on year in the first quarter of 2026 to just 592,751 tonnes, according to the company's production report for Q1 2026 released last week.

Specifically, pellet output decreased by 61% on year to 524,926 tonnes in Q1, and concentrates dropped even more sharply by 91% on year to 67,825 tonnes, the report showed. The company attributed the steep decline to widespread attacks by Russian forces on Ukraine's electricity generation and transmission infrastructure, which severely