Mechel says it, JFE Steel prolong coal supply deal for 3 years
MOSCOW, Jun 7 (PRIME) -- Russian metals producer Mechel has prolonged its coal supply agreement to Japan’s JFE Steel for three years, until June 2021, the company said in a statement on Thursday.
Mechel will ship up to 1.5 million tonnes of coking coal concentrate produced by Mechel’s affiliate Yakutugol and PCI coal of Yuzhny Kuzbass to JFE Steel per year.
JFE Steel expressed readiness for additional coking coal concentrate purchases to be produced by Elgaugol.
The deal was signed in 2015 and the shipment volume was up to 1 million tonnes annually under the initial deal terms.