Russian steelmaker MMK claims it has secured a 41 percent decrease in its iron ore price for 2009.
Company chairman Mr V Rashnikov said that the company managed to agree a reduction in price from USD85 to USD 50 per tonne from January 2009 despite a long term contract till April 1st 2009.
The main iron ore supplier to MMK is ENRC of Kazakhstan. Both sides concluded a 10 year contract in 2007 with the price to be revised yearly according to global iron ore prices.
No comments:
Post a Comment