Cleveland-Cliffs sees FY19 Mining, Pelletizing revenue rates $111-$116/long ton
Based on the assumption that iron ore prices ($76 per metric ton), steel prices ($694 per short ton), and pellet premiums ($67.50 per metric ton) will average for the remainder of 2019 their respective January averages, Cliffs would realize Mining and Pelletizing revenue rates in the range of $102 to $107 per long ton. Performing the same analysis using spot prices as of February 7, 2019, namely an iron ore price of $90.50 per metric ton, a steel price of $683 per short ton, and a pellet premium of $67.50 per metric ton, Cliffs would expect to realize Mining and Pelletizing revenue rates in the range of $111 to $116 per long ton for the full-year 2019. For 2019, Cliffs expects full-year sales and production volumes of its productive capacity of approximately 20 million long tons. Cliffs' full-year 2019 Mining and Pelletizing cash cost of goods sold and operating expense expectation is $62 to $67 per long ton.