NLMK agreed with Metalloinvest

Novolipetsk Steel has agreed to supply pellets for 4 years with Metalloinvest. Informs the press service of NLMK. From the agreement that in this period Metalloinvest NLMK will supply about 21.6 million tons of these products. During the agreed period the price of iron ore pellets will be calculated on a formula which takes into account the dynamics of prices on the world iron ore market. Note that the signing of contracts is a continuation of long-term mutually beneficial cooperation between companies. It will provide a stable product sales in developing mining enterprises metalloinvesta and reliable supply of pellets of increasing production capacity of NLMK. Previously reported that NLMK Group in 2010 compared with 2009 steel production increased by 8,8%, to 11.5 million tons. In IV quarter compared to III quarter metal production increased by 0.9% to 3,000,000 tons. In turn, the production of finished steel products last year rose by 9,9% to 11,6% and IV quarter - by 4.6% to 3,000,000 tons. OAO Novolipetsk Steel - one of the largest Russian steel companies. The company has a full metallurgical cycle and produces pig iron, slabs, cold rolled, hot rolled, galvanized iron, transformer steel and polymer-coated steel. Metalloinvest - one of the largest mining and metallurgical holdings in Russia. It includes mining division (Lebedinsky and Mikhailovsky mining and processing enterprises), and Steel Division (Oskol Electric Steel Works and Ural Steel Plant). Holding Companies, constitute the entire chain of mining and metallurgical production, from mining to production of high degrees of processing. Ministry of Industry