Mechel Reports 1Q2019 Operational Results
Mechel PAO American Depositary Shares (Each rep. 1 common shares) (MTL)
US:NYSE Investor Relations:
mechel.com/shareholders/report/20f
Company Research
Source: GlobeNewswire
MOSCOW, May 23, 2019 (GLOBE NEWSWIRE) -- Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, announces 1Q2019 operational results. Mechel PAO’s Chief Executive Officer Oleg Korzhov commented on the 1Q2019 operational results: “In this accounting period, prices for our key products remained at fairly high levels. This was due to insufficient investment into the coal industry worldwide and other factors, such as the restrictions on Australian coal shipments and China’s introduction of protective tariffs against US coal. The stably comfortable price level prompts producers to a greater output and supply of coal, which shifts the balance of supply and demand. The price dynamics in 2019 will mostly depend on China as the leading importer as well the stability of supply from Australia, Russia and the United States. “The 19-percent decrease in our coal production in the first quarter was due to the necessity of reducing our stockpiles which reache
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