Bloomberg News

Mechel Falls 4th Day on Bets China Trade Drop to Curb Demand

July 10, 2012

OAO Mechel, Russia’s largest producer of coal for steelmakers, tumbled for the fourth day after Chinese trade data stoked concern demand for the commodity will drop.

Mechel declined 0.8 percent to 201 rubles by the close in Moscow, the lowest level since June 28.

China’s imports increased 6.3 percent from a year earlier, the customs bureau said in a statement today in Beijing, missing the 11 percent median estimate in a Bloomberg News survey of 32 economists. Overseas sales gained 11.3 percent, compared with a 15 percent increase the previous month.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


Toyota's Hydrogen Man
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus