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Commodity Mid Session News

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(19 Jun 2024, 12:09)

Commodities Buzz: US Iron Ore Production Rises 12% On Year In March 2024

According to a latest update from the USGS, the US mine production and shipments of iron ore in March 2024 were estimated to be 3.86 million metric tons (Mt) and 1.60 Mt, respectively. Average daily production of iron ore was 125,000 metric tons (t), a 7% increase from that in February and a 12% increase from that in March 2023. Average daily shipments of iron ore were 51,600 t, nearly quadruple those in February and a 10% increase from those in March 2023. Mine stocks were estimated to be 8.84 Mt at the end of March 2024, a 34% increase from those held at the end of February, and an 8% decrease from those held at the end of March 2023.
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