Metalloinvest, a leading manufacturer and supplier of iron ore products and hot briquetted iron on the world market, one of the regional producers of high quality steel, has signed new long-term contracts for the supply of iron ore products with leading Russian and foreign companies.
Under these agreements, Metalloinvest will supply 3.6 million tonnes of concentrate and 12 million tonnes of pellets per year from Lebedinsky GOK and Mikhailovsky GOK im. A.V. Varicheva. The contracts are designed for terms ranging from one to three years.
Iron ore products in the volume of 2 million, 4.65 million and 2.8 million tons per year will be shipped to the Industrial and Metallurgical Holding (PMH), Magnitogorsk Iron and Steel Works (MMK) and EVRAZ, respectively.
Over 6 million tons of iron ore products per year will be supplied to the Company's foreign partners. Agreements were signed with ThyssenKrupp, Rogesa, ArcelorMittal, U.S. Steel Kosice, Trinecke Zelezarny, Nippon Steel Sumitomo Metal, ERDEMIR, British Steel, HBIS Serbia.
For the needs of the coke-chemical production of Ural Steel (part of the Metalloinvest company), EVRAZ also signed a long-term formula pricing contract for the purchase of highly volatile coals for coking.
“A long-term partnership based on mutual understanding and mutual support at different stages of market development is one of the elements of our Strategy for Qualitative Changes,” said Oleg Krestinin, Deputy General Director and Commercial Director of Metalloinvest. - The bulk of our sales in the iron ore segment is carried out under long-term contracts, which are the basis of our relationship with partners. Being sensitive to market needs, we develop a product line and, together with clients, achieve the best results. Our successful experience of working with key partners is based on common priorities: attention to customer needs, leadership in technology, customer service, safety at work and reducing the burden on the environment. "