AK Steel-Cleveland Cliffs Alliance

It covers iron ore pellet supplies.
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AK Steel

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

Cleveland-Cliffs

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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.

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