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What: Shares of Russian steelmaker Mechel
So what: This is a double whammy: Not only is the market in uproar over yet another round of European debt fears, which is bad enough for suppliers to the international construction market like Mechel, but the company had to shut down two coal mines after failing safety inspections. The mines are expected to come back online in a matter of days, but every work stoppage hurts the bottom line.
Now what: Safety concerns notwithstanding, 2011 has been brutal to steel companies. Mechel and U.S. Steel
Interested in more info about Mechel? Click here to add it to My Watchlist.
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