MECHEL ANNOUNCES COKING COAL CONCENTRATE TRADING START AT ST. PETERSBURG
INTERNATIONAL RAW MATERIAL AND COMMODITY EXCHANGE
Moscow, Russia – April 05, 2010 – Mechel OAO (NYSE: MTL), 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.
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 OAO
Ekaterina Videman
Phone: + 7 495 221-88-88
ekaterina.videman@mechel.com
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Mechel OAO
Ekaterina Videman
Tel.: (495) 221-88-88
ekaterina.videman@mechel.com
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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.
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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.