Cliffs Natural Resources' Sustainability Report; Iron Ore Price Quiet

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Cliffs Natural Resources Inc. outlined its 2012 sustainability accomplishments in a recently released report.

Some of the highlights, per a press release:

  • “Cliffs was ranked top performer in the iron and steel subsector group – and 34th overall – on the Maplecroft Climate Innovation Index, a Bloomberg listing of top-performing U.S.-based companies in terms of climate-related innovation and carbon management programs.
  • Developed and guided the implementation of spill reduction initiatives, which achieved a total spill volume reduction of more than 75% from 2011 levels.
  • More than 18 percent of Cliffs’ total electricity purchases in 2012 came from renewable energy generation.
  • Partnered with the city of Ishpeming in Michigan to finance the Partridge Creek Diversion Project, which aims to reduce or eliminate mercury levels in nearby Deer Lake.
  • Initiated the Bloom Lake Cliffs Forum, near the Company’s Eastern Canada iron ore operation, a civic quarterly meeting to proactively address the community’s interests and concerns.
  • Implemented a new salaried employee talent management system that tracks individual goals, accomplishments and career aspirations to assist in internal recruitment and development of succession plans.”

Today’s Iron Ore, Coking Coal and Steel Markets

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India kept at the higher end of its recent range. Chinese HRC saw little change in its price yesterday. The price of Chinese coking coal held steady.

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For the fifth day in a row, the steel billet cash price remained essentially flat on the LME at $140.00 per metric ton. The steel billet 3-month price saw little movement on the LME at $160.00 per metric ton.

The US HRC futures contract 3-month price held steady on Tuesday, remaining around $631.00 per short ton. The spot price of the US HRC futures contract was unchanged at $648.00 per short ton.

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