Great Lakes ore shipments drop 42 pct. in December
Iron ore shipments on the Great Lakes dropped 42 percent from December 2007 to December 2008, but were up for the year as a whole due to strong demand in early 2008.
The Lake Carriers' Association says the 3.1 million net tons shipped in December were barely half the five-year average for the month.
Steel mills worldwide have cut back during the recession, reducing the demand for the iron pellets mined from Minnesota's Iron Range.
Ore shipments will also be down in January, because many ships laid up early this season.
However, because of a strong demand for iron ore earlier in the year, 1.1 million more tons of ore were carried in 2008 than in 2007. Shipments beat the trade group's five-year average by 400,000 tons.
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Information from: Duluth News Tribune, http://www.duluthsuperior.com
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