Essar Steel Algoma, Cliffs Reach Interim Agreement for Iron Ore Supply
10/04/2010 - Essar Steel Algoma reaches an agreement with Cleveland Cliffs setting an interim price commencing October 1, 2010, for the provision of iron ore pellets.
Essar Steel Algoma has reached an agreement with its iron ore pellet supplier, Cleveland Cliffs, setting an interim price commencing October 1, 2010, for the provision of iron ore pellets.
In its press statement, the company said the interim price and agreement would remain in effect until certain arbitration proceedings between the parties are finally determined.
Essar Steel Algoma also noted the company was “pleased to have been able to reach this agreement with Cleveland Cliffs.”
A member of the Essar Group, Essar Steel Algoma is based in Sault Ste. Marie, Ont. As a fully integrated steel producer, the company derives its revenues primarily from the manufacture and sale of hot and cold rolled steel products including sheet and plate.
