Russian mining company Mechel's crude steel output increased by 8 percent in the first quarter of 2017, compared to the same period of 2016, the company said on Wednesday.
Mechel said that it produced 1.1 million tonnes of crude steel in the first three months of this year.
“This accounting period can be considered as fairly favorable for the global coal market,' said Oleg Korzhov, Mechel's chief executive officer.
'After the aggressive price hike in 3Q2016 and 4Q2016, the market went back to the price level comfortable for most international mining companies,' Korzhov said.
The company's coal output and sales of coking coal concentrate both decreased by 10 percent compared to the same period of 2016.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr