Deliveries will be made from Lebedinsky GOK (part of Metalloinvest). The contract also covers the supply of dry iron ore concentrate in the winter.
Pricing will be determined through a formula based on market indicators for iron ore prices in both global and domestic markets.
Nazim Efendiev, First Deputy CEO, Head of Sales, Management Company Metalloinvest, commented: "Metalloinvest's production facilities are capable of meeting the growing demand of Russian steel companies for high-quality iron ore. The new contract continues the successful and long-lasting partnership between Metalloinvest and Severstal.”
Dmitry Sakhno, Director, of Raw Material Sales, Procurement and Logistics, Severstal, noted: "Severstal has been purchasing iron ore from Metalloinvest since 2010. This new contract is a testament to our absolute satisfaction with the quality of the products."
