The largest Ukrainian iron ore producer Metinvest Holding (Metinvest) has said that the 2008 contracted price for iron ore concentrate supplied from its iron ore producing facilities will increase 68 percent starting from April 1. The amount of increase has been calculated taking into account the agreed increase for the 2008 iron ore prices in the international market.
Thus, the price from April 1 is estimated at the level of $118.78/mt for iron ore concentrate and at the level of $133.22/mt for higher quality iron ore.
Metinvest stated that the price for iron ore concentrate will be the same for all consumers of its iron ore - both steel producers within the group and also for its other consumers.
Apart from its own steel producing mills, Metinvest is to supply iron ore to Zaporizhstal, Ilyich and ISD, with each of which the company concluded long-term iron ore supply agreements at the beginning of the current year.