Mechel signs another long-term contract of coal supply

Mechel of Igor Zyuzin has signed the third long-term on coal supply in this year. But earnings from its sale are unlikely to be able to help the company to pay debts in conditions of falling prices.

Yesterday, Mechel and the Chinese corporation Shasteel Group signed a memorandum on coking coal supplies. From June of 2013, Mechel Carbon will supply 40-80 thousand tons of coal every month through Far Eastern ports, Mechel reported. The product price “will be determined on monthly basis”. Mechel noted that the coal dispatch had started already.

“Long-term contracts with such giants, as Shasteel, enable to provide our industrial capacities with stable loading and achieve diversification on sale markets, strengthening the status of one of the leading coal exporters in the world,” – the General Director of Mechel Mining Boris Nikishichev noted. According to him, in conditions of high volatility at th