Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced the extension of its existing long-term pellet supply contract with Russian steelmaker NLMK until December 31, 2015.
According to the agreed terms, Metalloinvest will supply NLMK with a total of 6.6 million mt of pellets next year.
The pricing under the contract will take into account current market prices, as well as global market price trends. Metalloinvest's subsidiaries Lebedinsky GOK and Mikhailovsky GOK will supply the pellets to NLMK's main production site in Lipetsk.
In 2011, Metalloinvest and NLMK had signed a long-term contract for the supply of 21.6 million mt of pellets over a four-year period.