ISD turns to Brazil for iron ore supply

The Ukrainian steelmaker, Industrial Union of Donbass (ISD), has announced that it has started to buy iron ore from Brazil and is intending to conclude a long-term supply agreement. ISD's BoD chairman Mr. Sergey Taruta stated that since the company was not able to agree on iron ore prices with the Ukrainian domestic suppliers, who raised their prices by 20-25 percent higher than the international market, it had decided to buy iron ore from Brazil. In 2007, the holding is planning to import about three million metric tons of iron ore from Brazil.