Mechel Posts Q2 Net Loss

Russia's Mechel (NYSE: MTL) posted a net loss of in the second quarter.

Mechel posted a quarterly net loss of $823 million, versus a year-ago profit of $192 million in the year-ago period.

Excluding impairment charges, Mechel posted a net loss of $177 million. However, analysts were expecting a net profit of $18 million.

Mechel shares closed at $6.90 yesterday.

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