25 Nov 2010 09:18

Metalloinvest to supply Baosteel 2 mln tons of iron ore in 2011

Shanghai. November 25. INTERFAX-CHINA - Metalloinvest Holding, Russia's leading steel and mining holding company, announced Nov. 24 it has signed a contract with Baosteel Group Xinjiang Bayi Steel International Trade Co. Ltd., a subsidiary of Baoshan Iron and Steel Group (Baosteel Group), to supply the company with two million tons of iron ore and iron pellets in 2011.

According to the announcement, prices will accord with international market rates on the date the contract was signed.

The two parties have also agreed to a technology exchange, the announcement added.

- KY