Mechel to supply coking coal to China’s Shagang Group

Thursday, 08 August 2019 17:30:42 (GMT+3)   |   Istanbul
       

Russian mining and steel company Mechel announced that it has signed a major agreement for coking coal supplies with China’s largest private steelmaker Jiangsu Province-based Shagang Group.

This new contract will be effective during the period between September 2019 and August 2020. Mechel will supply Shagang Group with up to 720,000 mt of premium-grade coking coal manufactured by Yakutugol Holding Company, which will be delivered via Mechel Group’s Trade Port Posiet. The price of this product will be adjusted monthly based on international market trends.

“We are glad to pursue our cooperation with Jiangsu Shagang and will continue to supply our Chinese partners with top-quality coal products. Such long-term contracts enable us to plan the load on our production facilities more efficiently and consolidate Mechel’s position as one of the world’s key coking coal exporters,” Mechel’s deputy chief executive officer Pavel Shtark said.

Shagang Group also stated that it is interested in purchasing thermal coal from Mechel if needed. 


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