Metalloinvest has signed a RUB 6.8 billion agreement to ship iron ore concentrate of the highest grade with iron content of up to 69.5% to Industrial and Steelmaking Holding (ISH). Prices take into account changes in market conditions.
In 2016, Metalloinvest started sales of high-grade products with a low silica content and increased iron content. These product characteristics ensure an increase in output capacity at steel furnaces, lower energy costs and costs of electrodes for electric arc furnaces, as well as improved efficiency of blast-furnace production due to a higher Fe-content in the furnace charge and lower slag ratio.
According to the agreement, shipments of high-quality concentrate from Lebedinsky GOK (part of Metalloinvest) to Tulachermet (part of ISH) are executed from May 1, 2016 to March 31, 2018. The agreement is another step in a series of Metalloinvest’s long-term agreements with Russian steel producers to supply iron ore products. (Metalinfo.ru/Ukrainian metal)