OREANDA-NEWS. Metalloinvest and Italian steel factory Ferriere Nord S.P.A. (part of Pittini Group) has announced the signing of a long term hot briquetted iron (HBI) supply contract.

According to the agreement, the price of the products will be in line with existing market conditions.

The HBI will be supplied by Lebedinsky GOK (part of Metalloinvest).

Andrey Varichev, CEO of Management Company METALLOINVEST, commented: “The high quality of Metalloinvest's products is well-known both in Russia and abroad. The Company's resource base and modern technologies allow it to maintain its global leadership position in merchant HBI production. I am confident that this agreement will be the basis for a long-term and mutually-beneficial partnership.

The signing of the new agreement continues Metalloinvest's practice of concluding long-term contracts with customers, an important factor in ensuring stable demand for its high added-value products.