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.
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.
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