30
Jun
01:00
Bank of China sues Mechel
A Russian subsidiary of the Bank of China has registered a lawsuit against Mechel, claiming almost RUB 55 million ($995,000). The move comes after a number of Russian banks launched proceedings against the miner and steelmaker for not repaying debts, Kallanish notes.
Mechel is reportedly in debt to the tune of $6.7 billion as of mid-June. The miner and steelmaker is negotiating its debts with Russian banks Sberbank, Gazprombank and VTB, which own the vast ma…
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Anonymous
Very good overview of the weekly steel market.
Anonymous