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Nippon Steel to buy 1.8-2.6 mln T/year of iron ore from India

2015-12-04 20:54:58| Steel - Topix.net

Dec 4 Nippon Steel & Sumitomo Metal Corp , Japan's biggest steelmaker, said on Friday it had renewed a contract to buy 1.8-2.6 million tonnes of iron ore annually from India's state-owned Metals & Minerals Trading Corp over three years. The deal follows the approval by India's cabinet in June to renew a long-term contract between MMTC and Japanese steelmakers for the supply of high-grade iron ore, despite growing pressure in India to use its natural resources to meet domestic needs.

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