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Metalloinvest signs iron ore, pellets supply contract with Mechel

OAO Metalloinvest signed long-term contracts to deliver about 1.6 million tonnes of iron ore and pellets to Mechel PAO unit Chelyabinsk Metallurgical Plant OAO.

According to the Aug. 10 release, Metalloinvest, from its Mikhailovsky GOK operation in Russia, will supply 600,000 tonnes of pellet and 1 million tonnes of iron ore concentrate and sintering ore to Chelyabinsk before June 30, 2018.

Pricing will be determined through a formula based on market indicators for iron ore prices in both global and domestic markets.