Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced that it has signed an iron ore supply contract with the global steel giant ArcelorMittal, which will be effective until April 2016. The agreement will provide a total of more than two million mt of iron ore concentrate for ArcelorMittal, which will be used at the group's European operations.
The product pricing will take into account current market prices, as well as global market price trends for iron ore.
The signing of the new medium-term contract will ensure stable mining product sales for Metalloinvest's enterprises.