Brief: IRC Says Q2 Iron Ore Concentrate Production 724,934 Tonnes

IRC

31/07/2020 02:27

July 31 (Reuters) - IRC Ltd  1029.HK :
    * IRC  - Q2 IRON ORE CONCENTRATE PRODUCTION 724,934 TONNES
VERSUS
698,374 TONNES
    * IRC - Q2  IRON ORE CONCENTRATE SALES 719,910 TONNES VERSUS
705,669 TONNES
    * IRC LTD-  PRICE OF 65% FE PLATTS BENCHMARK AS OF 30 JUNE
2020 OF
US$114 PER TONNE WAS 9% HIGHER THAN THAT AS OF THE 2019 YEAR END
    * IRC LTD -  K&S HAS NOT BEEN SUBJECT TO ANY DIRECT NEGATIVE
IMPACT FROM SANCTIONS AGAINST RUSSIA
    * IRC LTD- EXPECTED THAT IRC WILL REPORT A NET PROFIT OF NO
LESS
THAN US$5 MILLION FOR 1H2020
    * IRC LTD- DECIDED NOT TO ENGAGE IN FURTHER IRON ORE HEDGING
WHILE
THE MARKET REMAINS IN BACKWARDATION.

Source text for Eikon:  ID:nHKS9lS62K 
Further company coverage:  1029.HK 

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