Rautaruukki inks raw material contract with LKAB

Finland-based steelmaker Rautaruukki Oyj has announced today that it signed a long-term contract with the Swedish LKAB for the supply of iron ore pellets used as raw materials in iron production at the Raahe Works. Under the scope of the agreement, deliveries of the subject raw materials will begin as of April 1, 2007. According to the statement released by Rautaruukki, the agreement will ensure the availability of high quality iron raw material at the Raahe Works, which uses approximately one million metric tons of agglomerated iron ore pellets and around two million metric tons of iron ore fines in its iron production per annum.