Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced that it will increase shipments of pellets to Russian steelmaker NLMK Group by 900,000 mt in the second half of the current year. Metalloinvest’s subsidiaries Lebedinsky GOK and Mikhailovsky GOK will supply the products to NLMK’s main production site in Lipetsk. The total volume of pellet shipments this year will amount to 5.4 million mt.
Metalloinvest stated that the long-term pellet supply contract with NLMK, which was signed in 2011, has been extended until December 31 this year. The pricing under the contract takes into account current market indicators, as well as global market price trends.