Ferrexpo

Ferrexpo reported 2Q26 pellet production of 0.9 Mt, up 64% q-o-q and 4.7% y-o-y, bringing 1H26 output to 1.4 Mt, still down 36% y-o-y. Quarterly concentrate production increased 52% q-o-q to 103kt, but remained down 83% y-o-y, leaving 1H26 concentrate output 86% lower y-o-y at 0.2 Mt. Total production reached 1.0 Mt in 2Q26, up 63% q-o-q but down 33% y-o-y, with 1H26 output of 1.6 Mt (-43% y-o-y).

Ferrexpo issued an update stating that it has received $7.7m in net proceeds from the sale of the transshipping vessel Iron Destiny and, based on current production rates and an optimized sales mix, now estimates that it has sufficient net accessible cash beyond the previously indicated end-August 2026 liquidity horizon. At the same time, the company reiterated that it continues to pursue an equity raise of at least $100m, which it views as the most viable solution.