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Mechel

December 21, 2017

Mechel reports signing long-term coke export contract

Baar, Switzerland – December 21, 2017 – Mechel PAO (MOEX: MTLR; NYSE: MTL), one of the leading Russian mining and metals companies, reports signing a memorandum on coke supply with a major Balkans steelmaker, HBIS Group Serbia Iron & Steel.

According to the agreement, Moscow Coke and Gas Plant will supply its Serbian partner with up to 120,000 tonnes of coke products or some 30,000 tonnes quarterly. Supplies will be made in January-December 2018. Prices will be determined on a quarterly basis following negotiations.
Earlier in 2017, several trial batches of metallurgical coke were shipped to HBIS Group Serbia Iron & Steel, which is a subsidiary of a leading Chinese steelmaking holding, Hebei Iron & Steel Group.

In the first nine months of 2017, 35% of Moscow Coke and Gas Plant’s products were marketed domestically and some 65% were exported.

Serbia’s market is of major interest to us due to comfortable logistics and stable demand for coke. Until now, Mechel’s sales subsidiaries sold coke in that country on spot basis. This agreement launches a new stage of our partnership with HBIS Group Serbia Iron & Steel. In the future, we plan to increase our supplies to this key client in the Balkans,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark commented.

***

Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com

 

 

 

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