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Mechel Reports Deficit of $321 Mil in Jan-Sep
According to the consolidated financial results in the period of January-September of Mechel being a Russian steel and ironmaking resource company, its adjusted net income was a deficit of US$321 million. Its crude steel production quantity was 3,182 thousand tons, down 12.8% from the same period last year. It was affected by revamping of a converter at its integrated Chelyabinsk Steelworks and a price drop of products of Izhstal being its affiliated electric furnace mill. Against the backdrop of a sharp decline in prices of iron ore due to oversupply, its production at its mine fell.
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last modified : Mon 22 Dec, 2014 [10:38]
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