Dallas, Texas 02/04/2014 (FINANCIALSTRENDS) – Owners of MTL that is Mechel OAO (ADR) (NYSE:MTL) are paying 20 percent more during the listing of the company. If they would have opted Moscow as their investment then they would have saved this 20 percent. If we talk about the recent volume trends of this share then the last trade resulted into a volume of 1.65 million shares. The average volume of this stock is about 1.20 million shares.
The opening price of this stock during the last traded session was $2.05 and then later the share price touched $2.02. This is about -3.35% of negative performance offered by Mechel. This is one of those penny stocks that have got potential to bounce back and as a result there are many trading and investment houses that are still quite bullish about this stock. The only reason given by them is the expected increase in the metal consumption by China and Emerging markets such as Brazil and India.
Something about the Company
Mechel OAO (ADR) (NYSE:MTL) is an integrated mining and steel company and is a Russia based company. The main focus of the company is into production of different mining products such as coal, nickel, steel products and iron ore. The company has divided its operation into two verticals namely mining and steel. Company has got many different subsidiaries that engage into different steel and mining businesses in Russia and some other countries in Europe, Asia and Middle East.
Recently few days back the company also announced Oleg korzhov as its Chief operating Officer. He is going to replace Evgeny Mikhel who acted as company’s CEO since 2010 and has now decided to leave the company as per his own personal wish. This announcement was made on 1st January, 2014 by the company’s board of directors and higher management.