SMM4, March 14: Cleveland-Cliffs, the largest iron ore company in North America, announced Monday that its Northshore mine in Minnesota and its Tilden mine in Markett County, Michigan, will suspend production based on current market conditions.
The company said it would reduce inventory levels in both regions and would continue to ship iron ore to its customers to fulfil commercial agreements.
According to the company's current plan, the Northshore mine will suspend production in mid-April and restart in August, while the Tilden mine will suspend production at the end of April and restart in July.
Cleveland-Cliffs is the largest iron ore producer in the United States, supplying iron ore mainly to the steel industry in North America and the Asia-Pacific region. It is reported that in 2019, the company's pellet output reached 19.92 million tons, down 2 percent from the same period last year. Pellet sales were 19.37 million tons, down 6 per cent from a year earlier.
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