Ferrexpo (LSE:FXPO) is a Ukraine-based FTSE 250 mining company that has been hit hard by the Russian invasion. It mines iron ore at several locations countrywide and converts the mineral into pellets before exporting it via a shipping port. While most of its operations are largely outside the conflict zone, shipping via the Port of Pivdennyi has proven challenging. Supply chain disruption and logistical constraints have hit the share price hard this year, resulting in a 39% drawdown. But a positive rating from Barclays last week followed by a decent earnings report two days later has given the price a boost. As markets opened on Monday (22 April), a rally began that added over 14% to the share price. With the price still comparatively low, is this a cheap buying opportunity – or the start of a so-called sucker’s rally? It’s difficult to gauge whether the price rally is the result of positive news regarding the conflict. US House representatives have passed a long-delayed $61bn military aid package to Ukraine. Russia responded with a promise to intensify attacks on storage bases for Western weapons. With Ukraine struggling to hold key defensive locations in the conflict area, there’s concern as to...