The Russian steel producer Magnitogorsk Iron and Steel Works (
MMK) has announced that it has signed a supply agreement with
Russia's largest carmaker AvtoVAZ for 2011, under which it will deliver up to 30,000 mt of steel products per month.
As SteelOrbis previously reported, last week AvtoVAZ also signed a one-year contract for the supply of cold rolled and galvanized steel with Novolipetsk Steel (
NLMK), under which over the next twelve months
NLMK will deliver a total of 180,000 mt of cold rolled steel including 36,000 mt of galvanized steel, i.e., about 15,000 mt of steel products per month.
AvtoVAZ said that in 2011
MMK and
NLMK will cover 95 percent of its needs in steel products.