LKAB has delivered an operating profit of more than SEK 5 billion in April-June 2022 quarter in a market with continued high iron ore prices and a quarter characterized by an uncertain world and increased costs. Net sales for the second quarter amounted to SEK 12,375 million and operating profit totaled SEK 5,719 million. Sales were affected mainly by the continued high iron ore prices that were considerably lower compared to the record levels reached during the second quarter of 2021, and by lower delivery volumes. Operating profit was also affected by increased costs, linked among other things to general price rises and maintenance work that was postponed as a result of the pandemic. A stronger dollar rate had a positive effect.The average global spot price for iron ore products for the quarter was USD 138 per tonne. At the end of the quarter the price level was USD 120 per tonne and has continued to fall during the beginning of the second half of the year. Quoted pellet premiums for the quarter were somewhat higher than in the same period last year. Production volume for the quarter declined somewhat to 5.7 (million tonne and was affected by postponed maintenance work from the 2021 pandemic year and by continued production disruptions in one of the pelletizing plants in Kiruna. The delivery volume totaled 6.2 (million tonne and was affected mainly by the lower production volume. During the quarter, LKAB announced it had raised its ambition for the future production volume of sponge iron to 24.4 million tonnes by 2050.