The Russian iron ore and steel producer Metalloinvest Holding (Metalloinvest) has stated that for 2008 it has concluded long-term contracts for the supply of 80 percent of its annual hot briquetted iron (HBI) production.
In 2008, Metalloinvest will supply about 25,000 metric tons of HBI per month to the European group Corus, which is currently considering an increase in its volume of purchases. In addition, Metalloinvest will supply HBI to the Slovakian facility of US Steel, and to Italian producers ABS Acciaierie Bertoli Safau SpA and Lucchini.
Meanwhile, the company is also planning to supply HBI to Iran (about 15,000 metric tons per month), to South Korea (about 20,000 metric tons per month) and Ukraine (at least 40,000 metric tons per month). Moreover, Metalloinvest is currently negotiating supply agreements with Japan and Vietnam.
As for production plans, Metalloinvest has stated that in 2008 its HBI producing subsidiary Lebedinsky GOK plans to increase its output by 1.4 million metric tons to 2.4 million metric tons.