Steelmaker Rautaruukki has signed a long-term raw-materials
contract with Severstal subsidiary Severstal Resources, the
Finnish company said on Wednesday May 2.
Russia-based Severstal Resources will directly supply Ruukki
with raw materials, enabling it to reduce its dependency on
coking coal from more distant sources such as North America and
Australia, and to diversify its purchases of raw materials.
The three-year contract will cover about 20% of Ruukki's coking
coal and iron pellet supplies, with deliveries beginning in
July and May, respectively.
Ruukki currently sources most of its iron pellet from
Sweden-based LKAB and its coking coal from the USA, Canada and