Pittsburgh—Cleveland-Cliffs’ third-quarter iron ore pellet sales fell 15% on year as the US steel market continued to recover from the effect of the coronavirus pandemic, the US-based miner and steelmaker said Oct. 23. Pellet sales in the quarter fell to 4.91 million lt, down from 5.75 million lt in the year-ago quarter. Pellet production was also lower year on year at 4.56 million lt, down from 5.16 million lt in Q3 2019. Looking ahead, with Cliffs' proposed acquisition of substantially all of ArcelorMittal's US operations, the miner expects to use a substantial portion of its pellet production for its own needs as it expands its presence in steelmaking, Cliffs CEO Lourenco Goncalves said in conference call with industry analysts Oct. 23.
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