Russian steelmakers MMK and Severstal have signed long-term contracts with domestic automakers KAMAZ and Ulyanovsk automobile plant (UAZ, a part of Sollers) for the current year for supply of rolled steel, while they have signed a similar supply contract with AvtoVAZ just for the first quarter of the year, following an anti-crisis meeting held at the office of Russia's first deputy prime minister Igor Shuvalov regarding prices for steelmakers' products, as reported by Russian media sources.
The prices agreed by MMK and Severstal with the automakers have not been revealed, though representatives of both sides confirmed that long-term supply contracts have been signed.
However, the steelmakers were unable to reach an agreement with GAZ Group because of the difficult economic situation at the latter company's enterprises. Representatives of GAZ Group declined to comment on the progress of negotiations with steelmakers.