The seaborne pellet market experienced a supply shock in 2015, after a tailings dam burst forced the suspension of the30.5Mtpa Samarco operation in Brazil which produces both BF and DR pellets and accounted for around 20% of seabornepellet supply. Low pellet premiums had already forced closure of Vale’s 7Mtpa S?o Luís and 5.2Mtpa Tubar?o I and IIplants in 2012 and 2013 and temporary closure in 2015 of several pellet plants in the United States including USSC’s6Mtpa Keetac, Cliffs’ 6Mtpa Northshore and 5.5Mtpa United Taconite. The US operations restarted production in 2016 and2017 as pellet premiums recovered.
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