Mechel to ship up to 300,000 T steam coal to Itochu Corp

MOSCOW: Russian metals and mining giant Mechel said on Thursday it has signed a long-term framework agreement to supply Japanese trader Itochu Corporation with up to 300,000 tonnes of washed steam coal.

Japan's major cement and power facilities will be the end consumers of coal due to be shipped under agreement, Mechel said in statement.

"Today Japan's market accounts for about 20 percent of Mechel's coal exports, and we expect to increase this figure in the near future," Mechel Mining Management Company's Chief Executive Officer Pavel Shtark was quoted as saying.