"All that together indicates there's a real potential for a slowdown in iron ore until we get the steel industry back and going," he said.One factor that could spur a recovery in global demand and thus benefit the Iron Range is China's new plan for stepping up spending on its public infrastructure, Fosnacht said. Another is the rebuilding effort after Superstorm Sandy, which he said eventually will mean a pickup in the construction industry in the Northeast and higher demand for new home appliances made of steel.
Cliffs Cutting Iron Production, Affecting 625 Jobs
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