Net profit of Chelyabinsk Iron & Steel Works goes down 501,397,000 RUR in July-September 2007
Chelyabinsk Iron & Steel Works (part of Mechel Group) reports its net profit dropped by over 10% in the third quarter of 2007. Their net profit went down from 2,099,440,000 RUR in April-June 2007 to 1,598,043,000 RUR in July-September 2007, which means it decreased by 501,397,000 RUR, or by 23.9%. This can be explained by a decrease in metal product prices and an increase in the prime cost per one manufactured item.
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