Iron ore shipments grew 68% to meet higher demand from Japan and China for the key ingredient in steelmaking.
Closure will affect most of the smelter’s 425 workers.
Caused by weaker demand in major exports markets, export growth falls to 11.3%.
US and European economic issues and Chinese slowdown weigh on consumer demand.
ArcelorMittal is investing $2.1 billion in the expansion of its Mont-Wright mining complex in Quebec, a move that it says will create 8,000 jobs during construction.