Severstal forecasts ‘challenging’ year-end

Nov 15, 2012 | 04:25 PM | Chris Prentice

Tags  Severstal, Severstal North America, Alexey Mordashov, steel, Chris Prentice

NEW YORK — OAO Severstal expects the fourth quarter to be more challenging than the third quarter, forecasting falling global steel prices amid stable input costs.

The outlook for the end of the year comes as the Moscow-based steelmaker reported net sales of $3.59 billion for the three months ended Sept. 30, down 3.4 percent from the second quarter, putting year-to-date sales at $10.99 billion, a 9.1-percent decline from the first nine months of last year.....

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