Swiss-headquartered iron-ore producer Ferrexpo has lowered its guidance for the full year to between 10.4-million tons and 10.6-million tons, citing current market conditions.
The new guidance compares with an earlier forecast of producing 10.6-million tons this year.
The company, which has assets in Ukraine, produced a total of 2.54-million tons of pellets in the third quarter, down 9.8% on that of the previous quarter.
Year-to-date production is 7.80-million tons, compared with 7.76-million tons in 2018.