Mechel’s Q2 Coal Production Up 9 Percent from Q1

Reuters reported that second-quarter coal production for Russia’s Mechel OAO (MCX:MTLRP,NYSE:MTL) came in at 7 million tonnes, up 9 percent from the previous quarter.

As quoted in the market news:

The firm, one of Russia’s top producers of coking coal, said sales of the steelmaking ingredient were down 8 percent year-on-year in the first half of 2013 partly due to flagging prices.

‘The 8 percent decrease in overall coking coal sales…was due to our revision of production plans for Mechel North America (Mechel Bluestone) as prices on our key markets decreased,’ Chief Executive Evgeny Mikhel said in a statement.

Click here to read the full Reuters report.