Mechel's First-Half Steel Output Drops 25% on Year
Post Date: 09 Aug 2013 Viewed: 344
Russian steel and coal producer OAO Mechel (MTL) said Friday its steel output in the first half of the year fell 25% from the same period of 2012 to 2.55 million metric tons due to the sale of assets in Romania and the suspension of operations at its Donetsk plant.
MAIN FACTS:
Second-quarter steel output fell 4% from the first quarter to 1.25 million tons.
First-half coal output was flat compared with a year-earlier at 13.4 million tons, but rose 9% in the second quarter from the previous quarter to 7 million tons.
Coking coal concentrate sales fell 8% in the first half to 5.7 million tons due to changes in production plans at Mechel Bluestone in North America as prices in key markets fell. Mechel didn't provide an outlook for the rest of 2013.