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- Scheduling changes push Syrah Resources (SYR) graphite shipment back to October, with constraints expected to continue through to December
- The shipment of 21,000 tonnes of natural graphite sales from SYH’s Balama operation in Mozambique was due to ship from Nacala in late September
- Prior to the delay, September 2021 quarter sales were were pitted at 29,000 tonnes and now SYR foresees that number dropping by 41.4 per cent
- Constraints are anticipated to ease from December with additional vessel capacity and container equipment added for East Africa
- Shares are trading 4.35 per cent down at $1.21 at 10:50 am AEST
Scheduling changes have pushed Syrah Resources (SYR) planned graphite shipment back to October, with constraints expected to continue through to the end of the year.
Around 21,000 tonnes of natural graphite sales from SYR’s Balama Graphite Operation in Mozambique were due to ship from Nacala in late September.
SYH said sales in the September quarter were already constrained by shipping availability and this delay is said to highlight the impact of container shipping market disruption on Balama product shipments.
Consequently, the company anticipates natural graphite production at Balama to be lower in September when compared to the June quarter.
However, the weighted average sales price for the September quarter is expected to be higher than June.
Prior to the delay, September 2021 quarter sales were were pitted at 29,000 tonnes. Now SYR foresees that number dropping by 41.4 per cent to 17,000 tonnes.
Moving forward, SYR said constraints impacting sales and operations should ease from December, with additional vessel capacity and container equipment for East Africa coming in.
The company is reportedly receiving strong demand and forward contracting for its Balama products with an order book comprising 45,000 tonnes of sales for the December quarter and additional spot sales expected.
Shares were trading 4.35 per cent down at $1.21 at 10:50 am AEST.
