Great Lakes Iron Ore Trade Up Almost 10% in October
Shipments of iron ore on the Great Lakes totaled 6 million tons in October, an increase of 9.6% compared to a year ago. The October ore float was also 8.8% ahead of the month’s five-year average, but trailed September by about 3%.
Shipments from U.S. ports totaled 5.3 million tons, an increase of almost 16% compared to a year ago. The October total included 183,000 tons shipped to Québec City for loading into oceangoing vessels and delivery overseas. Year-to-date overseas exports from U.S. Great Lakes ports total 2,516,000 tons. Through October of last year, overseas exports from U.S. ports totaled 3,470,000 tons.
Shipments from Canadian ports to Great Lakes destinations totaled 659,000 tons in October, a decrease of nearly 31% compared to a year ago.
Year-to-date, the Lakes iron ore trade stands at 47.6 million tons, a decrease of 4.8% compared to a year ago. Loadings are 2.8% below the long-term average for the January-October timeframe.
Lake Carriers’ Association represents 17 American companies that operate 57 U.S.-flag vessels on the Great Lakes and carry the raw materials that drive the nation’s economy: iron ore and fluxstone for the steel industry, aggregate and cement for the construction industry, coal for power generation, as well as salt, sand and grain. Collectively, these vessels can transport more than 115 million tons of cargo per year.