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Russian mining and steel group Mechel's (MTL -4.9%) H1 profits rose four-fold Y/Y to $501M due...
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Tuesday, October 11, 2011, 3:16 PM ETRussian mining and steel group Mechel's (MTL -4.9%) H1 profits rose four-fold Y/Y to $501M due to an increase in coal mining volume and reduced asset costs, but the stock is trading lower after the company made cautious comments on its current Q2. It says the situation in the steel market is getting increasingly difficult, as cost increases in raw materials aren't being compensated by rising steel prices.
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