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Latest | Highest ratedMechel: Things Are Looking Up [View article]
The positive news is that the risk with property rights has dissipated. But that had been priced in days ago - anyone who read unfiltered orignal media reports would know that Putin never wanted to take over MTL.
The negative news is that there is a lack of respect for market economy. FAS should look at the reality of the international coking coal market - Asian steel mills suffer far higher price hikes than their Russian counterparts. If FAS cap the price MTL can charge, all russian resource stocks - not just MTL - would trade down and stay down. Say goodbye to their dream of developing a domestic stock market.