29
Mar
08:37
Fitch sees Ferrexpo likely depleting cash reserves
Fitch says the likelihood has increased that Ferrexpo will deplete its remaining cash reserves in the next 6-12 months. This is based on the assumption iron ore averages at $45/tonne in 2016 and the Swiss-headquartered pellet producer does not extend its pre-export financing (PXF) maturities. However, the firm is said to be investigating measures to increase liquidity.
Ferrexpo continues to generate positive free cash flow, but most is directed towards meeting P…
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Anonymous
Very good overview of the weekly steel market.
Anonymous