Mesabi Nugget, Mining Resources idled; 200 jobs affected - Mesabi Daily News
Declining prices in pig iron, which is the end product of the operations, is the reason for the continued idles, Millett said. “With this action, we are actively responding to the unprecedented decline in iron ore pricing, which recently led to an extreme decrease in pricing for pig iron, our end product,” Millett said. “Current global currency dynamics and world iron ore supply/demand factors support lower pig iron prices. Both idled facilities are joint-ventures, with Mining Resources owned by Steel Dynamics and Magnetation, and Mesabi Nugget owned by Steel Dynamics and Kobe Steel. Source: www.virginiamn.com
