Metalloinvest sealed yesterday the longest contract in its history. Under it, the company undertook to supply iron-ore raw to Arcelor Mittal during five years.

The contract supplies, said Metalloinvest General Director Maxim Gubiev, will cover a fourth of all iron-ore raw produced by enterprises of the holding. This year’s output of this product is estimated at 36 million tons.
What’s more, the company is negotiating a similar long-term contract with U.S. Steel, sources with Metalloinvest said, adding that deliveries to domestic market won’t be affected. “Given the overall growth of production, the share ratio of export deliveries to domestic ones won’t change materially, up to 55 % of the overall,” Gubiev pointed out.