Ferrexpo reports slip in output

Swiss iron ore company Ferrexpo yesterday announced a fall in total output in the year to date of 100,000 tonnes compared to the same period in 2011. In a production update, the FTSE 250-listed company said that iron pellet production from its own ore was up 2.8 per cent quarter on quarter, but overall production compared to last year had fallen due to rising prices in third party materials required for processing. Shares closed down 4.69 per cent yesterday.