today's call. Michelle you on to good and listening Thank everyone morning
The the auto time and a second by of in our period are results extended took We the who our weeks. sector player second recovery who the automotive were as of in and quarter inventories the QX are the and prepare EBITDA all. is than recovery the confirmation an that real relevant that, a for represents clear relevant are automotive our $XXX QX. more that million of demonstration Conversely, affected for or positive third in entire abundantly suppliers not the operations company million ones month at With an themselves. resilience in throughout timely adjusted shutdowns Our made the from unprecedented are of took industry. sharp recovery for production starting place the $XXX our QX less automotive main to the market, QX actions for of significantly speak clear of numbers the quarter during we over our XX of
delivery. the During in pandemic, back uptick operations our be the challenging we We on and just-in-time would came of demand offensive. the days prepared be went most clients ready when inevitably to our for asking the
steelmaking ABL the us debt, our preparation sector and balance have working of our quarter. Our pay that the cash $XXX We closed Since showed sizable release to acquisition flow as gave work million. in in ABL flow this for down the half, reducing QX. in generation restart we the by cash automotive $XXX in $XXX March, million we ahead $XXX our we as cut from million to capital balance key free to for excellent million the used cost QX contributed performance well in
will to our anticipated be before, coming years, the one free debt. for stated and the be priority have should with to to As flows number delever. down cash with flow And we able we robust is continue continue cash paying consistently
the beginning were as as usual of early than Our Mansfield Shore idle pace July costs still is by North of Dearborn, well a part the good shipment down results slower in affected and in quarter, being QX. third elevated negatively particularly quarter reflecting still the during
the results. as such, year. the a XXXX at continue expect As quarter on strong high state end idle we should and healthy financial that, improve with towards note we of fourth shipments costs With a closing with our performance savings, progress to
not thing the is As we we strong forward to. look approach the only end our relevant performance of XXXX,
end USA. acquisition our of of the all substantially the we the ArcelorMittal Before operations on year, close to expect of
results AK industry that deal improve roof. more and only of all ArcelorMittal of under Steel fixed Cliffs the The when are a month has team this announcement steelmakers less of USA legacy illustration period since short of and dream even assets are our combined in regard, efficiencies. Our it in and this for third about comes of us a will the than quarter clear profitability. footprint help grown time, cost one a both those optimization a we has made our power of base excited this of in potential volume Cleveland-Cliffs, to It and quality been and costs little loads, dilution our
We are soon as and hit the running to preparing as for a close. ground the deal smooth transition
lot subsidiary Nowadays, our than parts technologically using a components ore mines using ground clients. robotic just-in-time talk manufactured of news technology. more about then automotive equipment people operations and in think anything car literally I and ending Precision Minnesota in pull cannot with our and at and Michigan the our to from explosives Partners delivering advanced in to iron
all from largest steelmaker this in and comes North hot-dip exactly our downstream the responsibility with our into for further and mines America. automotive flat-rolled to footprint line doing more, within becoming galvanizing manufacturing fully-automated parts. are recognize that our fully state-of-the-art, Taconite We the We facilities our
the will over long years my by have been of five the I and never behavior irresponsible criticism tempted Under proponent stupidity has ore never a approach. the Cliffs for volume watch, volumes of volume been sake. iron my miners, of to ago be major Going of back value
value reaching and cost-efficient will our always most for to manage We capital. continue the on business in real invested and return quality-focused way,
the And months. to couple of discuss will through transaction. regulatory we acquisition once have For USA our working are certainly approvals now, in closed we have of a ArcelorMittal the more we of
of reduction excitement of startup direct Ohio. in year Another the state-of-the-art piece of we Toledo, the the is as end our approach plant upcoming
we the start producing plant. stage At installation look commissioning we that We this all a of into have to pleased completed to in and are construction entered more the time, weeks. forward now we HBI and inform you few have final
plan merchant the remains become seller a original Our of same. to HBI
acquisition footprint tonnage to However, with ArcelorMittal and should clients. our we redirect production AK our in-house Nevertheless, of USA, announced of of select a utilization still to blast BOF have a EAF, HBI available Steel plan furnace. meaningful portion new the many own HBI sell relevant we and our in existing to to
EAF, known. the For well of value product is proposition this
complete carbo EAF-based impurities come embedded from environmental to Our without steel X% quality are of the tons carbon in pig for without year. in that usual compliance per of the five a American companies number and top imported HBI in million that disregard Brazil. of feedstock pig very content HBI Russia tune scrap the sources foreign our metallic import is a metallization content with the and in The the similar iron metric to iron
HBI direct or our uses instead our charcoal, pellets making gas friendly reductant pig reduction more as as than and natural of However, feedstock foreign iron. coke process environmentally of instead dirty much sinter
Our HBI also iron. has over a pig advantage superior imported logistics
to in or We consumption freight will iron's imported their pig without and time. deliver with HBI rates sync clients component multi-month our significant lead cost
HBI. particularly reduce coke While our a furnaces we of in improve in was clients, to million our our The up as XX% now own and Cleveland-Cliffs our the as to the results, buy access long This productivity, blast another HBI coolant signed our steel certain having HBI coke rate between expect Equally XXXX carbon of and own with Back our cost term of reduce benefit EAFs, positive clients become soon companies flat-rolled the we be all few we our X.X in of our of the we this to almost reduce Thanks by which increase the automotive positive I to no costs other XXXX. tons. XX% with fully BOF working a in to the the and months emissions. mills types highlight sales. for is in for next any select volumes buyer such scrap between XX% importantly, receiving of very and HBI increase our driven will HBI which year, to other. our differentiating furnaces furnaces which early own the as for use. Cleveland-Cliffs number contracts in market, every and be a is in-house to pays market our will scrap of all integrated able a to several to EAF-based use XXXX, was exposed have to of of as to way, able well off used justifies HBI associated will be and with time, sales. quarter relevant, in repeat, and XX% entirely scrap at our blast been we in of we factor the in portion XX% made like also parts. as HBI benefit automotive keep to consumption our our steel costs, the It XXXX and material to with furnace blast to that use Cleveland-Cliffs factor would a HBI starting mini to differentiating I start also items, third not may XX% produce mills clients, optionality QX and our were Said
is equipment different helps subsidiary deliver from for others to to the sum, time components actually to trying for natural support know, and AK to to out it. technological the produce locations. long do and In our time of us go been parts a able way in-house. produce our industry It day capability, Steel exposed supplying hard already state-of-the-art As long, to. to our you and R&D We where really due company, every get high-end able material are we second-to-none to be it several center automotive in to need and technological are provide from don't to our parts be our all has to and material. And to also
predictions of ride-sharing pandemic have come by transportation, and to on consumers. the the demand Railroad are fruition. Our increased longer automotive around no safe considered traveling air effects
by growing even suburban and in In units people's fact, soon to car X.X end migration The September, from follows to as recovery individuals also million car concentrated sales sales increased ownership XX%. April families. traveling remained while trendy in units to it anytime in areas consumer-driven down no for in living. The XX.X metro adjusted is shows and million fleet is U.S. annual seasonally is rate again car private from and automotive signs
closely clients more up them to sits XX which even to the not did OEMs steel their really After truck and sales ordering the and market demand a way, We for until dramatic The with with SUV XX% this their about May, automotive sales of XX-day just initial help inventory our hit at which, their accounts inventory of to keep from the low. and in is increased for mid-August. clients. are automotive situation by replenishing our working standpoint restarts stride nine-year
So as the ton our capabilities sum, still excited particularly automotive been clients have with the trend quarter. X.X of also the volume pleased That market, and an of for stamping million has downstream we This In with in are acquisition the our role Steel third to current in first half shipping we our demand. whose been of are doing well extent. the AK Partners, ArcelorMittal black a also little in evident very acquisition Precision high our reflects with our business, USA. said, timing are of
remain Going forward, book. space to automotive high-margin the for commercial core we intend our
us for international mining market reduction and as that this iron our results strong our for through good legacy The cost anticipated act were the our indexes side, and business. the pricing a proxy unpredictable results Regardless, difficult ArcelorMittal thing. USA, USA making ArcelorMittal reasons of ever provide influence Once acquisition iron market. prices of better been high-quality that legacy always ore which acquisition our index sword, index pelletizing the ore The advantage ArcelorMittal felt. with most the double-edged the associated and the good players this should than premium, that's the will thing. in prices. and the demand a Once stands On a in-house is cash of of business of of these will be indexes acquisition to as critical volatility of a our closes, to USA business in our flows after be our competitive reducing secure contaminated output, our incompetent and commodity for performance custom-made has to a the in one be should predictability the significantly is in-house for we XX% complete, meaningless closing the particular pellet beyond pellet out form by the have been as able the continue repair QX
making. continue to and sustainable our will combined we steel truly company, commitment As a emphasize
relevant a in the world, industry are the most player steel steel in We the American environmentally industry. friendly
our also and HBI. integrated with plants We soon steel natural with pellets reduced seen gas have
disclosures reports. we I Koci on Going please? provide enhanced overall my carbon it emission Keith, performance plan reductions to environmental With to sustainability our Keith forward, that, closing turn remarks. our over upcoming before through and will
