We have retained our Neutral recommendation on Russian miner Mechel OAO.
This Company Looks Good for Value Investors, But Are There Drawbacks?
Mechel OAO announced that it has signed a coking coal supply deal with China's Shasteel Group.
Steel giant ArcelorMittal announced that it has completed the sale of 15% interest in its fully-owned subsidiary ArcelorMittal Mines, Canada to a consortium led by POSCO and China Steel Corporation for $1.1 billion.
We currently lowered our recommendation on POSCO , one of the leading Korean steel producers, from Outperform to Neutral.