Steel Mills
Cliffs Signs Ore Agreement with AK Steel
Written by Sandy Williams
August 29, 2013
Cliffs Natural Resources announced Tuesday that it has entered a nine year agreement to provide iron ore pellets to AK Steel. The new agreement runs from 2014 through 2023. Cliffs will continue to supply AK Steel under its previous agreement from now until 2014.
The new agreement sets minimum and maximum volume purchases from Cliffs and provides a formula-based pricing mechanism where the annual price is adjusted to reflect iron ore pricing and producer price indices.
“We are pleased to announce this long-term supply agreement and the extension of the previous contract with our valued customer, AK Steel,” said Cliffs President Donald J. Gallagher. “Our U.S. Iron Ore operations will continue to be a reliable supplier of high-quality iron ore pellets to AK Steel for many years to come.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Pacific Steel breaks ground on California rebar mill
Pacific Steel Group has broken ground on its Mojave Micro Mill in Southern California.
Nucor lifts weekly HR spot price to $915/ton
Nucor has increased its weekly HR coil spot price for seven consecutive weeks.
American mills urge Trump to maintain no exceptions on steel tariffs
"We urge you to resist any requests for exceptions or exclusions and to continue standing strong on behalf of American steel," the companies wrote.
Cliffs CEO touts employee cash bonus for buying US-made vehicles
Cleveland-Cliffs Inc. has introduced a new employee incentive program to promote American-made vehicles, support domestic production, and strengthen US supply chains.
Auction of AHMSA assets is next step in bankruptcy proceedings
An inventory valuation of the assets of Altos Hornos de Mexico SA (AHMSA) has been completed. Local reports suggest an auction for the assets of the bankrupt steel company could come as soon as the end of this month.