US Great Lakes Report Increase In Iron Ore Shipments
News: Statistics released by the Lake Carriers' Association show that iron ore shipments on the US Great Lakes increased by 9.6% y-o-y during October 2013, Steel Orbis reports. The increase, which puts the lakes total iron ore shipments up to 6mn tonnes for the month, has been attributed to a 16% y-o-y rise in shipments made from US ports, up to 5.3mn tonnes for the month.
BMI View: Emerging markets will continue to attract the bulk of mining investment, leading us to forecast slow growth across mineral products in the US over our forecast period. We forecast the value of the US mining industry to reach US$66.1bn in 2017, representing an average growth rate of 1.5% per annum. The US mining sector is likely to grow at a slower pace than many developed market peers, such as Canada and Australia, but promising opportunities for mine development still exist.