Ferrexpo (LSE:FXPO) achieved a 3% rise in third-quarter 2025 production, reaching 1.51 million tonnes, despite ongoing operational challenges. These include the suspension of VAT refunds by Ukrainian tax authorities and heightened aerial attacks on Ukraine’s infrastructure. The company has implemented cost-saving measures and temporarily reduced output to a single pellet line due to financial constraints, while continuing to meet strong demand from Chinese customers for high-grade, low-alumina iron ore concentrates. The suspended VAT refunds, totaling $47 million, remain a critical factor affecting liquidity and operational planning.
Ferrexpo’s outlook is tempered by declining revenues and profitability, with negative earnings weighing on valuation. While technical indicators show limited potential for short-term bullish momentum, the stock remains in a broader bearish trend and currently offers no dividend support.
About Ferrexpo
Ferrexpo is a Swiss-based iron ore company with operations in Ukraine, listed on the London Stock Exchange under the ticker FXPO and included in the FTSE All Share and FTSE4Good indices. The company produces high-grade iron ore pellets that support the global steel industry by enhancing productivity and reducing carbon emissions. Ferrexpo has supplied the steel market for over 50 years and was the world’s third-largest exporter of iron ore pellets prior to Russia’s full-scale invasion of Ukraine in 2022.
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