GLIN==> Lakes Ore Trade Skyrockets in January; Up 168 percent

The steady climb in operating rates at steel mills produced a stunning
increase in iron ore shipments on the Great Lakes in January.  Loadings
totaled 1.9 million tons, an increase of 168 percent compared to a year
ago.

 

So far this year each week has brought a small increase in the capacity
utilization rate at steel mills.  The most recent report from the
American Iron and Steel Institute finds that for the week ending
February 6 the industry is using 67.3 percent of its capacity.  A year
ago mills had only 45 percent of their capacity on line.

 

Most of the Great Lakes iron ore ports stopped shipping when the locks
at Sault Ste. Marie, Michigan, closed - as per Federal regulation - on
January 15.  Loading continued at Escanaba, Michigan, until February 1,
when a final cargo of 39,324 tons was loaded into the U.S.-Flag
self-unloading barge GREAT LAKES TRADER for delivery to a steel mill at
the lower end of Lake Michigan.

 

On average it takes 1.5 tons of iron ore to make a ton of steel.  Iron
ore has been shipped on the Great Lakes since 1852 and has been the
largest single commodity moving on America's Fourth Sea Coast since at
least 1900.

 

See attached for more details.

 

Glen G. Nekvasil

Vice President - Corporate Communications

Lake Carriers' Association

Suite 720

20325 Center Ridge Rd.

Rocky River, OH  44116

Phone: 440-333-9996

Cell: 216-702-6360

 




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