Cleveland-Cliffs (NYSE: CLF), the largest iron ore pellet producer in North America, released the fourth quarter of 2019 operating report. The report shows:

In the fourth quarter of 2019, the production of Cliffs pellets was 5.178 million tons, a decrease of 420,000 tons (9.3%); due to the decline in market demand, Cliffs pellet sales in the fourth quarter were 5.84 million tons, a year-on-year decrease of 659,000 tons (10%). . Looking at the full year of 2019, the company's pellet output reached 19.92 million tons, a year-on-year decrease of 2%. The sales volume of pellets was 19.37 million tons, a year-on-year decrease of 6%.

The company's comprehensive revenue in the fourth quarter was US $ 534 million, a year-on-year decrease of US $ 162 million (23.2%).

LevelClevelandCliffs, founded in 1847, is the largest and oldest independent iron ore mining company in the United States and a major pellet supplier to the North American steel industry. Cliffs has a total of five mines in Minnesota and Michigan, which mainly produce blast furnace pellets. Because the mine is close to the Great Lakes region, most of the pellets can be shipped to the port for shipment by rail.

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