The US Geological Survey has reported in its Mineral Industry Surveys that US mine production of iron ore in July was 4.25 million metric tonne down from 4.7 million metric tonne of production in July 2011.

During the first 7 months of this year, US iron ore mines in Michigan and Minnesota yielded a total US production of 29.6 million metric tonne of iron ore.

Mine stocks of iron ore at the end of July 2012 fell by 1.4 million tonnes, a 28% descent from those held as of June 30th.

The USGS added that average daily production in July 2012 was 137,000 metric tonne, down 10% from July 2011. US iron ore shipments were 5.73 million metric tonne in July 2012 with shipments averaging 185,000 metric tonne on a daily average basis.

Iron ore exports were 1.04 million metric tonne for July of this year with pellets as the leading product at 832 metric tonne. The majority of exports were shipped to Canada and China.

Meanwhile, US iron ore imports for the month of July were 425,000 metric tonne, while imports for the first seven months of this year totaled 3.26 million metric tonnes. The majority of US iron ore imports in July were pellets from Canada.

Source - Mine Web

(www.steelguru.com)