LKAB reduces production - loss of two million tons

The reduced production means the pellet plant KK3 will be temporarily closed. LKAB chose that plant because the majority of products usually delivered to customers in the Middle East are processed there.

"We do not expect this to affect any of our existing customers outside the Strait of Hormuz. We have customers who have not been able to receive deliveries since the outbreak of the war, and there is currently great uncertainty about when deliveries will be able to resume," says Richardson.

Closing the pellet plant means a loss of supply of approximately two million tons.