According to report, Russian mining and steelmaking company Metalloinvest reported its earnings and profit decline in January to June period this year, compared to first half in 2012. Its first half revenue was down by 15% year-on-year to US$3.8 billion. The mining segment contributed 54% and the steelmaking segment accounted for 43%. Its first half EBITDA dropped by 25% to US$1.23 billion year-on-year. At the same time, the net income plunged about half from US$1.3 billion to US$621 million. Metalloinvest continued to construct one plant with capacity of 3.5 million tons of pellet and scheduled to commission next year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66183&division=A6
