Saturday, February 13, 2010

Lake Carrier iron ore shipments up 156%

U.S.-flagged ships on the Great Lakes moved 2.4 million ton of cargo in January compared with 918,981 tons in January 2009 and 3.8 million tons in January 2008.

Last year was the worst year since 1938 on the Great Lakes. 31.7 million tons of iron ore were shipped in 2009, comparable to 1935 when 31.7 million tons were shipped.

In 1932, during the Great Depression only 3.9 million tons of iron ore were shipped.

Finally a better sign on steel demand as evidenced on the Great Lakes.

It's not just demand from China!