Great Lakes ore, stone trade off
With the U.S. steel industry's capacity utilization rate still hovering around 40 percent, iron ore shipments on the Great Lakes in May totaled only 3 million tons, down nearly 60 percent from a year ago, said the Lake Carriers Association.
The iron ore trade has fared even worse on a year-to-date basis. Through May, shipments are down 65 percent compared to a year ago.
The group said demand for limestone on the Great Lakes in May was also down significantly. Shipments from U.S. and Canadian ports fell below 2.9 million tons, a 32 percent decrease compared to a year ago.