Mechel Announces Coking Coal Concentrate Trading Start at St. Petersburg International Raw Material and Commodity Exchange
Wednesday, April 7, 2010
Label:
Coal Mining
MOSCOW, April 5, 2010 (GLOBE NEWSWIRE) -- Mechel OAO , one of the leading Russian mining and metals companies, announces coking coal concentrate trading start at St. Petersburg international raw material and commodity exchange.
On the 2nd of April, 2010 St. Petersburg international raw material and commodity exchange ZAO held the 1st Russian coking coal concentrate auction. The auction was held on the terms of commodity exchange specification of «Energy Resources» section. The commodity was brought forward under delivery basis of FCA Tomusinsk and Mezhdurechensk station of Kemerovsky region, Russian Federation. Mechel Trading House OOO, Mechel OAO's subsidiary, was one of the participants of the trading. Steel mills and coking plants are expected to become the main coking coal concentrate consumers.
On the 2nd of April, 2010 St. Petersburg international raw material and commodity exchange ZAO held the 1st Russian coking coal concentrate auction. The auction was held on the terms of commodity exchange specification of «Energy Resources» section. The commodity was brought forward under delivery basis of FCA Tomusinsk and Mezhdurechensk station of Kemerovsky region, Russian Federation. Mechel Trading House OOO, Mechel OAO's subsidiary, was one of the participants of the trading. Steel mills and coking plants are expected to become the main coking coal concentrate consumers.
Mechel OAO highly appreciates the importance of the exchange auctions start for coking coal concentrate. Better availability of pricing information is an effective tool for state antitrust control. Implementation of the commodity exchange mechanism for raw materials competitive pricing is a one more step in developing market economy in Russia.
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, ferrochrome, ferrosilicon, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.
CONTACT: Mechel OAO
Ekaterina Videman
+ 7 495 221-88-88
ekaterina.videman@mechel.com
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, ferrochrome, ferrosilicon, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.
CONTACT: Mechel OAO
Ekaterina Videman
+ 7 495 221-88-88
ekaterina.videman@mechel.com
Mechel Announces Coking Coal Concentrate Trading Start at St. Petersburg International Raw Material and Commodity Exchange
Reviewed by NajlA On Wednesday, April 7, 2010, at 7:34 PM
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