Rautaruukki Corporation Stock exchange release 2 May 2012 at 12 noon EEST
Rautaruukki has signed a long-term, three-year contract for supplies of coking coal and iron pellets with Severstal Resources, a division of the Russian company OAO Severstal. The contract enables Ruukki to reduce its dependency on distant coking coal and to spread purchases of raw materials.
The contract signed will cover up to around 20 per cent of Ruukki's coking coal and iron pellet requirement at full delivery volume. Pellet deliveries will begin this month and deliveries of coking coal will begin in July.
Ruukki sources most of the iron pellets it needs from the Swedish company LKAB and buys coking coal on the global market from i.e. the USA, Canada and Australia. The contract now signed will ensure the long-term supply of these main raw materials in various market conditions.