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Moscow, Russia - 11 March 2021 - Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, announces 2020 operational results. Mechel PAO s Chief Executive Officer Oleg Korzhov commented on operational results. Amid a backdrop of the coronavirus pandemic, last year was extremely uneven and perhaps the most complicated for industrialists since the 2008 financial crisis. Mechel Group survived this situation fairly well - we did not halt any of our facilities, we preserved our staff and did not revamp our production plans. ....
Advertisement Mechel PAO, one of the leading Russian mining and metals companies, has announced its 2020 operational results. Mechel PAO’s CEO, Oleg Korzhov, commented: “Amid a backdrop of the coronavirus pandemic, last year was extremely uneven and perhaps the most complicated for industrialists since the 2008 financial crisis. Mechel Group survived this situation fairly well – we did not halt any of our facilities, we preserved our staff and did not revamp our production plans. “Economic activity in most Asia Pacific states picked up in 3Q20. Today, clients are highly interested in our coal products, which is due to stable demand and incremental growth of steel output in the region. By the end of 2020, spot prices for metallurgical coal concentrate reached US$202/t CFR China. Over 2 months – from October to the beginning of December – the price went up by 62% and continued to grow. The upward dynamics of the spot market affects quarterly contract prices a ....