Cleveland-Cliffs posts record pellet shipments amid Midwest demand
Iron ore pellet shipments climbed 9% year over year in the first quarter, with Cliffs citing restarts at integrated mills in the Great Lakes region and healthy automotive orders.
Cleveland-Cliffs reported that its iron ore pellet shipments hit a quarterly record in the first quarter, up roughly 9% year over year. The miner said demand from integrated steelmakers along the Great Lakes held up better than expected, led by a full order book at its automotive customers.
Executives pointed to the Dearborn Works blast furnace restart and continued high utilization at Burns Harbor as the two biggest drivers. Internal merchant pellet flows into the Middletown and Indiana Harbor blast furnaces also increased after planned maintenance wrapped in late 2025.
The company reiterated its full-year pellet guidance of 19 to 20 million tons and said it sees no immediate need to restart idled capacity at its Minnesota mines. Management said spot prices for merchant pellets have stabilized after a soft fourth quarter.
Written by
Marcus Reid
Covers integrated steelmakers and Midwest manufacturing for 22metals. Previously at American Metal Market.
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