Ferrexpo PLC (FXPO.LN) said ahead of its Annual General Meeting later Thursday that sales demand, in the year to date, has been very strong.

MAIN FACTS:

-Over 90% of sales have been based on long term volume framework agreements

-Significant provisional average DAF/FOB pellet price increases

-Average C1 cash cost to April 30 $38.84/ton

-Has already or expects to secure significant average DAF/FOB price increases inline with international pricing for all of its production.

-Maintained own ore production at full capacity.

-Pellet production, including third party concentrate, to April 30 was 3.2 million tons, a 20.3% increase over prior year levels.

-2.9 million tons was produced from own ore, a 10.4% increase over the previous period.

-The split of production between 62% Fe and 65% Fe was 51.5% and 48.5% respectively, for this period.

-Board anticipates ongoing improvements in operating efficiency, notwithstanding higher cost pressures.

-Shares closed Wednesday at 236.4 pence.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com
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