Russia’s Severstal to Focus on Raising Iron Ore Output

Platt’s reported Severstal (MCX:CHMF) plans to raise output of coking coal and expects iron ore projects to come online as early as 2017.

The market news is quoted as saying,

Prices of both the key steel raw materials, especially coking coal in Russia, will remain high with limited supply growth potential in iron ore as financial market turmoil continues to delay new projects, Severstal Resources CEO Vadim Larin said in an interview in London.

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