Metalloinvest and Pittini Group signed a contract for the supply of HBI

Metalloinvest, the largest mining and metallurgical holding in Russia, and the Italian steel plant Ferriere Nord SPA, part of the Pittini Group, have signed a long-term contract for the supply of hot briquetted iron (HBI). According to the agreement, the price for the products will be set in accordance with the existing market conditions, and the volumes of supplies will not be disclosed.

Ferriere Nord SpA plans to use the iron ore raw materials in an electric arc furnace to produce wire rod and various fittings at the company's rolling mills. In addition, the company manufactures electro-welded beams, meshes and reinforcing structures for the construction industry. The company recently acquired the Siderpotenza steel mill, which produces preforms and rebar for reinforced concrete. Ferriere Nord SpA is the first company of the Pittini group, founded in the sixties by Andrea Pittini, to achieve a prominent position in the metallurgical sector over the years. Today it is a large company with a production capacity of over 2 million tons per year.

Under the terms of the signed contract, HBI iron ore will be supplied to Lebedinsky GOK, which is part of the Metalloinvest holding. Andrey Varichev, CEO of Metalloinvest Management Company, said that "the high quality of products manufactured by the Holding is in demand both in Russia and abroad. The company's resource base and modern technologies allow it to maintain its global leading position in the production of commercial HBI. I am sure that this agreement will become the basis for a long-term and mutually beneficial partnership. The signing of the new agreement strengthens Metalloinvest's practice of concluding long-term contracts with customers, which is an important factor in ensuring sustainable demand for its high value-added products. "