15
Mar
14:21
Mechel's earnings fall on lower prices, Covid-19 impact
Russian miner and steelmaker Mechel saw 2020 consolidated revenue fall 8% on-year to RUB 265.5 billion ($3.6 billion), on the back of a significant decrease in coal prices and the negative impact of the Covid-19 pandemic, Kallanish notes.
The company's consolidated Ebitda declined 23% to $562 million in 2020, dragging profitability down three percentage points to 15% and net profit down by 66% to RUB 808 million ($11m).
Steel division…
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Anonymous
Very good overview of the weekly steel market.
Anonymous