Q3 Profit for Mechel Lower than Expected
Reuters reported that Mechel's (NYSE:MTL) quarterly profits were lower than forecast.
Articles Tagged "mechel"
Mechel Said to Delay $2 Billion IPO Plan for Coal Mine Unit
Bloomberg reported that Mechel (MCX:MTLR) is postponing its planned coal IPO.
Coal Stocks Swing
Coal stocks have been hit hard in this recession, given slumping electricity demand in the U.S. and the sharp drop-off of steel demand. For shareholders of Patriot Coal Corp (PCX: NYSE), the pain has been particularly acute. The stock lost 96 per cent of its value since last June's record highs. This year alone, Patriot's stock is down 41 per cent versus a 1 per cent decline by the Dow Jones U.S. Coal Index.
Russia anti-trust body demands Mechel to reduce coal price
Igor Artemyev, Head of Russia’s anti-trust body, said: Russian miner Mechel should significantly cut the price at which it sells coking coal to domestic steel makers and in return will receive a “less than average” fine. Click here for more information. Click here to visit company’s website.
