Wednesday, 02 Feb 2011
Russian steelmaker Severstal said that it has agreed on rolled stock supplies to Russia’s largest carmaker AvtoVAZ for February.
No information on the value of the deal and the volume of supplies was available.
Severstal said that the companies were continuing negotiations on rolled stock supplies for the rest of the year.
Severstal provides around 60% of AvtoVAZ’ metal needs, while Magnitogorsk Iron and Steel Works provides the remaining 40%.
On December 24, 2010, AvtoVAZ and MMK agreed on prices for rolled stock supplies for January June.(sourced:Prime Tass)
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