Russian steel and mining group, Mechel has signed a 5-year coking coal supply agreement with South Korea's Hyundai Steel
Russian steel and mining group, Mechel and Hyundai Steel signed a long-term coking coal supply agreement in February 2009. Under this agreement, hard coking coal produced by OJSHC Yakutugol will be supplied to Hyundai Steel for 5 years starting from April 1, 2010.
In April, Hyundai started the first of two blast furnace, some of the largest in the world. Its estimated annual output of each is about 4Mt. In 2010 it is expected to produce approximately 2.5Mt of iron. The second blast furnace with similar parameters is planned to be launched in late 2010