Severstal inks IF steel deal with Italian firms
According to the statement released by Russian steel producer
Severstal, the company signed a deal with two Italian firms to supply 17'000 tons of interstitial free (IF) steel in the first half of 2005.
The Italian companies supply semi-products and certain components for
automotive companies such as Peugeot, Citroen, Renault, Fiat, Alfa Romeo, Iveco, Audi, BMW, Daimler-Chrysler, Man, Opel, VolksWagen, General Motors, Mitsubishi, Nissan and Saab.
Severstal officials stated that such agreements are made for 1-3 years however they signed the agreement for a six-month period, which shows the successful supplies of IF steel in 2004.
IF steel is low in carbon and used mostly in
automotive industry and home appliances.