Mechel's first-half loss narrows to $648m

摘要

MECHEL posted sharp declines in first-half revenue for its mining and steel divisions, though the indebted Russian metals and mining giant managed to cut its overall net loss by more than half to $648m. The company's overall revenue fell 26% to $3.44bn for the first half, from $4.62bn in the first half of 2013. The decline was largely due to a decrease in the steel division's revenue after the group disposed of its Romanian enterprises, as well as a decline in sales of third-party products.