Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

NLMK Steel Sign Long Term Pellet Supply Agreement with Metalloinvest

Feb 17 2011

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NLMK (LSE: NLMK) and Metalloinvest Holding have signed four year contracts to supply a total of 21.6 mln tonnes of pellets. Both companies have successfully developed a pricing scheme for raw materials supplied under long-term contracts based on applicable market indicators.

For the duration of the contract, pellet prices will be determined using a formula reflecting pricing dynamics in the international iron ore market.

The contracts represent a continuation of many years of mutually beneficial cooperation between the two companies and will ensure a stable sales channel for Metalloinvest Holding's developing ore mining assets, as well as a stable pellet supply to NLMK's expanding production facilities in Lipetsk.

Pellets to Novolipetsk will be delivered from the Lebedinsky and Mikhailovsky mining and processing plants (assets of Metalloinvest Holding) located in neighboring regions less than 400 km from Lipetsk.

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