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Ruukki Signs Coking Coal, Pellet Contract with Severstal
05/04/2012 - Rautaruukki has signed a three-year contract for supplies of coking coal and iron pellets with Severstal Resources, a division of the Russian company OAO Severstal.
Rautaruukki has signed a three-year contract for supplies of coking coal and iron pellets with Severstal Resources, a division of the Russian company OAO Severstal. The contract enables Ruukki to reduce its dependency on distant coking coal and to spread purchases of raw materials.
Ruukki says that the contract will cover up to around 20% of its coking coal and iron pellet requirement at full delivery volume. Pellet deliveries will begin this month and deliveries of coking coal are scheduled to begin in July.
Ruukki sources most of the iron pellets it needs from the Swedish company LKAB and buys coking coal on the global market from the U.S., Canada, and Australia. The contract will ensure the long-term supply of these main raw materials in various market conditions, the company noted.
Ruukki provides its customers with energy-efficient steel solutions, operates in about 30 countries, and employs around 11,800 people. Net sales in 2011 totaled EUR 2.8 billion.
