Mechel (MTL) Higher After Russian Imposes Light Fine
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Shares of Mechel (NYSE: MTL) are nearly 3% higher today after fines imposed on the company by Russian regulators were less than expected.
Mechel was filed $32 million, or 5% of its revenue from coking coal. In addition, Mechel must lower coking-coal prices by 15%.
Shares Mechel have lost half their value over the past month after Russian Prime Minister Vladimir Putin criticized the company over its prices and Russia's Anti-Monopoly Service initiated an investigation.
Mechel was filed $32 million, or 5% of its revenue from coking coal. In addition, Mechel must lower coking-coal prices by 15%.
Shares Mechel have lost half their value over the past month after Russian Prime Minister Vladimir Putin criticized the company over its prices and Russia's Anti-Monopoly Service initiated an investigation.
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