OREANDA-NEWS. On April 01, 2008 Mariupol Ilyich Iron and Steel Works and OOO Metinvest Holding signed specifications to long-term supply agreements setting out new prices for iron ore raw materials. The price was adjusted according to iron ore price change index at the global market (+ 65%), reported the press-centre of SCM.

Both parties agreed and stated that the practice of such long-term agreements guarantees iron ore raw materials supplies and contributes to effective performance of one of Ukraine's largest enterprises.

Signing such long-term raw material supply agreements goes in line with the standards that are universally recognized in the global metal sector. Both parties fully meet the obligations they assumed and comply with all provisions of the long-term partnership agreement signed in early 2008.