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Print[Ferro-Alloys.com]Cliffs Natural Resources reported that its consolidated revenues in the third quarter fell 25% to USD1.5-billion compared to USD2.1-billion in the third quarter of 2011 primarily because of a 36% decrease in year-over-year pricing for seaborne iron ore.
The company’s consolidated sales margin fell 76% in the third quarter to USD198-million compared with the third quarter of 2011. Iron ore sales fell to 6,576,000 lt in the third quarter and 15,399,000 lt in the first nine months compared respectively to 7,891,000 lt in the third quarter and 16,481,000 lt in the first nine months of 2011.
Revenues from product sales and services fell to USD110.51 per lt in the third quarter compared to USD137.90 in the year-ago quarter.
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