Here thuylien, another positive development for Mechel and still low volumes and PPS sitting at lows???
MECHEL UPS COKE SALES TO TURKEY
Moscow, Russia – April 17, 2019 – Mechel PAO (MOEX: MTLR; NYSE: MTL), a leading Russian mining and metals company, reports signing an agreement on supplies of metallurgical coke to Turkey’s major sugar producer Kayseri Sugar.
According to the contract, Mechel is due to supply its Turkish partners with up to 90,000 tonnes of metallurgical coke in 2019-2021 (approximately 30,000 tonnes each summer season). The price will be determined following negotiations.
The agreement was signed on the sidelines of Kayseri Sugar’s delegation visiting Moscow Coke and Gas Plant which will produce the coke that is due to be shipped to Turkey by way of Port Mechel-Temryuk in Russia’s Krasnodar Region.
“We consider Turkey as a priority export destination for our coke products. In the summer season of 2018, Mechel’s mining division shipped a total of 50,000 tonnes of coke to Turkish agro-industrial companies, including 10,000 tonnes to Kayseri Sugar. This year, thanks to this agreement with Kayseri Sugar, we plan to improve on that. It is also important to note that this is the first contract signed directly with Kayseri Sugar, which will ensure commercial conditions that would be more profitable for both sides,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark said.
FOR EDITORS
Turkey’s Kayseri Sugar industrial group includes three sugar factories. The company annually produces a total of 400,000 tonnes of sugar and some 100,000 tonnes of molasses. Kayseri Sugar acquires sugar beet from approximately 15,000 farms.
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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
