Lower prices lead Severstal to draw red ink in 2d quarter

Aug 29, 2013 | 12:21 PM |

Tags  Severstal, quarterly earnings, steel, iron ore, coking coal, steel prices, Nadia Popova

MOSCOW — Lower steel, iron ore and coking coal prices took a toll on OAO Severstal during the second quarter, according to the Russian steelmaker’s financial results issued Aug. 29.

Moscow-based Severstal posted a not loss of $44 million for the three months ended June 30 in contrast to year-earlier net income of $155 million on revenue that slipped 8.2 percent to....

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