Reportedly, Russian steel giant Mechel released its consolidate financial results for the first quarter of this year.
Mechel posted a net loss of US$321 million for the first quarter of this year, slumping from a net profit of US$218 million in the given period of time.
In the given period of time, the company's sales revenues totaled US$2.481 billion, falling by 15.9% year on year. Also, its operating incomes declined by 80.8% to US$61 million.
The sales revenues from Mechel's mining segment from external customer totaled US$769 million in the first quarter of this year, decreasing by 18.6%; those from its steel segment totaled US$1.430 billion, falling by 13.3%, both compared to the figures in the same period of a year ago.