Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced that it has secured a one-year contract to supply iron ore concentrate to Russian pig iron and coking coal producer KOKS Group. Under the agreement, the total amount of iron ore concentrate to be supplied should exceed 1 million mt.
The contract pricing is based on market indicators, with the price formula linked to the dynamics of the global iron ore indices.
The concentrate will be shipped from Lebedinsky GOK, a subsidiary of Metalloinvest, to Tulachermet, a part of KOKS Group.