NLMK dims outlook, slashes production, comments on JMC lawsuit

Dec 13, 2008 | 07:00 PM |

Russia's Novolipetsk Steel (NLMK) on Friday said it expected fourth quarter performance to "decrease substantially" thanks to an "apparent crisis" in the global economy.

The company said it had idled three blast furnaces because of tumbling prices and demand for steel in October and November. Capital expenditures also face substantial cutbacks, NLMK said.....

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