Metalloinvest to ship over 2 mln tons of iron ore concentrate to ArcelorMittal

The value of the contract is not released.

Metalloinvest of A. Usmanov has signed a contract for the supply of iron ore raw materials with the largest in the world steel making company ArcelorMittal, Metalloinvest reports.

In conformity with the reached agreement, until April 2016 Metalloinvest will ship over 2 mln tons of iron ore concentrate to ArcelorMittal. The iron ore concentrate will be used at the European enterprises of the group, is reported.

The value of the contract is not released.

“The price making for the shipped products will be in conformity with the existing market indices. The formula takes into account the dynamics of prices in the world market of iron ore concentrate”, Metalloinvest reports.

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