U.S. iron ore consumption dropped more than 11% in June from the previous month and nearly 13% from the same month a year ago, the American Iron Ore Association reports.
Consumption totalled 4.7 million gross tons in June compared to 5.3 million tons in May. The June, 1985, level was 5.4 million tons.
“Iron ore consumption levels in the U.S. reflect the continuing depressed conditions of the steel industry,” AIOA Chairman Robert McInnes says. “Until steel production improves, iron ore consumption will stay at devastatingly low levels.”
In Canada 1.2 million gross tons were consumed in June, the same level as the previous month. Consumption in June, 1985, was 1.3 million tons.
Inventories of iron ore in the U.S. at the end of June were significantly below the year’s earlier levels. Inventories were 23.8 million tons in June compared to 29.8 million tons at the same time last year. Canadian inventories totalled 10.7 million tons compared to 9.7 million tons in June, 1985.
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