In the industry of steel production Mechel (MTL) had a year in 2007 that was as solid as steel. The company is one of Russias leading manufacturers of specialty steels and steel alloy products. Their operations mainly consist of the production of stainless steel which is used in the production of cars in the automotive industry but it is also used in the construction industry for buildings and in the rail industry for the construction of tracks among other things. They are also involved in semi finished steel and carbon. The company also has a mining operation where it produces coal, iron ore and nickel which it sells to other customers. The CEO is Igor Zyuzin who owns a majority share of the company.
For most of the last couple of years the stock had not done much. In September of 2006 it began to move. In that month it was at around $20 a share. By January of 07 it was at $25. By May it hit $30. By September it was around $45. In the last quarter of 07 it kept rising more and more and so on December 31 2007 it closed at $97.14 after taking a hit of $1.20 for the day. It went up almost 300% this year.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment