First stage of iron ore long-term contracts renewal completed in Russia

摘要

The first stage of renewal of iron ore long-term agreements was completed with minimal changes in Russia. Parties mostly extended their supply agreements with- out a significant revision in indicators and formula-based contracts. The Chinese index (Fe 62%), the Atlantic premium for pellets and the exchange rates will still be considered in the contract formulae. The diminishers that take iron ore quality into an account will also remain in force.