Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced that it has signed a contract with Metalloinvest, a leading global iron ore and hot briquetted iron (HBI) producer based in Russia, regarding supply of cast iron.
The agreement is for a monthly supply of 50,000 mt of cast iron from Metalloinvest's integrated iron and steel plant Ural Steel to MMK.
The necessity to buy cast iron from a third party has appeared because of shortage of metal scrap, a representative of MMK said.