Mechel OAO (MTL) reported a first-quarter net loss attributable to shareholders of $320.65 million, compared to profit of $218.02 million last year. Adjusted net loss was $233 million, compared to profit of $220 million last year. Net revenue decreased to $2.48 billion from $2.95 billion last year.
Evgeny Mikhel, the company's Chief Executive Officer, said, "The first quarter was marked by an important step forward toward optimizing Mechel's asset structure. We disposed of Romanian steelmaking assets, which did not fit into the company's reviewed strategy and had a negative impact on our financial results."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.