AK Steel-Cleveland Cliffs Alliance

It covers iron ore pellet supplies.
Publish date:

AK Steel

(AKS) - Get Report

, a producer of flat-rolled carbon, stainless and electrical steel products and other steel products, said


(CLF) - Get Report

entered into a multi-year iron ore pellet supply agreements with it.

The seven-year supply agreement beginning Jan. 1, 2007, runs through year-end 2013. Under the terms of the contract, Cleveland-Cliffs will supply between 0.9 million and 1.4 million tons of pellets annually. This new agreement supplants prior spot-sales arrangements with AK Steel, which are expected to be about 400,000 tons in 2006.

This story was created through a joint venture between TheStreet.com and IRIS.