Group for the supply of coking coal
In accordance with the signed memorandum, the subsidiary company "Mechel Carbon" will deliver Shasteel Group from 40 000 to 80 000 tonnes of coking coal per month from the Far Eastern ports, since June 2013.
The delivered price of coal will be determined on a monthly basis.
Prior to May 2013, "Mechel" has put more than 500,000 tons of coking coal in the main coking plant Shasteel in Zhangjiagang, Jiangsu Province. Shasteel — the largest privately owned steel company in China with a capacity of steel production to 35 million tons a year.
"Given the high market volatility extremely important for us to have a guaranteed market opportunities of our products the largest steel producers in the world. Long-term contracts with such giants as Shasteel allow for a stable load our manufacturing capacity and achieve diversification by markets, reinforcing its status as one of the leading exporters of coal in the world "- said General Director of "Mechel Mining" Boris Nikishichev.