Putin Mechel in its place, lifting U.S. met prospects

摘要

U.S. coal buyers and sellers probably ought to get used to thinking more than they would like about Vladimir "Rootin' Tootin" Putin, the prime minister of Russia. In ways that are difficult to digest, Putin could have a lot to say about the price and availability of U.S. coal. Russian producer was shown this week a price will be paid for maneuvers counter to the Russian government's will. Mechel was punished with enforced domestic coal price reductions as a result of accusations of anti-competitive behavior. Actually, the price paid by Mechel was taken as a positive by investors. Given Putin's recent comments about the company, they had feared worse, and Mechel shares had lost substantial value leading up to government-imposed price controls and fine.