Steel Mills
August 29, 2013
Cliffs Signs Ore Agreement with AK Steel
Written by Sandy Williams
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.
