You are here: Home > Steel News > Latest Steel News > Metalloinvest...

Metalloinvest to supply 21.6 million mt of pellets to NLMK over four years

Thursday, 17 February 2011 15:06:08 (GMT+3)   |  
       
The Russian steelmaker Novolipetsk Steel (NLMK) has announced that it has signed four-year contracts with the Russian steel and iron ore producer Metalloinvest Holding (Metalloinvest) for the purchase of 21.6 million mt of pellets.
 
"Both companies have successfully developed a pricing scheme for raw materials supplied under long-term contracts based on applicable market indicators," said NLMK in its statement, adding that the pellet prices will be determined using a formula reflecting pricing dynamics in the international iron ore market.
 
Accordingly, the contracts will ensure a stable sales channel for Metalloinvest's developing ore mining assets, as well as a stable pellet supply to NLMK's expanding production facilities in Lipetsk.
 
Pellet supplies to NLMK's main production site in Lipetsk will be delivered from Metalloinvest's Lebedinsky and Mikhailovsky mining and processing plants located in neighboring regions.

Similar articles

Canadian iron ore production down 38.8 percent in August

22 Nov | Steel News

Daily iron ore prices CFR China - November 22, 2024

22 Nov | Scrap & Raw Materials

Major steel and raw material futures prices in China – November 22, 2024 

22 Nov | Longs and Billet

Iron ore prices in China gradually rise amid further stimulus hopes in Dec

21 Nov | Scrap & Raw Materials

Major steel and raw material futures prices in China – November 21, 2024 

21 Nov | Longs and Billet

Brazilian high-grade iron ore price increases from last week

20 Nov | Scrap & Raw Materials

India’s KFIL installs third oxygen plant at its Koppal mill

20 Nov | Steel News

Tata Steel ferroalloys division first in India to publish environmental protection declaration

20 Nov | Steel News

Daily iron ore prices CFR China - November 20, 2024

20 Nov | Scrap & Raw Materials

Major steel and raw material futures prices in China – November 20, 2024 

20 Nov | Longs and Billet