Oct 15. Norilsk Nickel expects to see nickel prices stay high in the mid-term outlook

Finamrus com 15.10.2007 13:04
http://www.finamrus.com/newtopics/news03B45/default.asp

Norilsk Nickel expects to see nickel prices stay high in the mid-term outlook, Norilsk Nickel CEO Denis Morozov told reporters. "By and large, we project that demand will be sustainable. Compared to July-September, Q407 demand for nickel and nickel production orders is on the rise from Chinese stainless steel manufacturers" – he said.

Oct 12. Mechel Group ramped up output of rolled products 10% y-o-y to 3,875,000 tons in 9M07

Finamrus com 12.10.2007 12:41
http://www.finamrus.com/newtopics/news03B32/default.asp

Mechel Group ramped up output of rolled products 10% y-o-y to 3,875,000 tons in 9M07, the metal group said in a statement. In the reporting period steel production rose 3% to 4,562,000 tons and pig iron manufacture jumped 6% to 2,837,000 tons. Nickel turnout surged 22% in the January-September period of 2007 to 12,840 tons. As for other metrics, coal extraction jumped 8% to 13,409,000 tons, while coking coal extraction tumbled 8% to 6,354,000 tons and thermal coal output soared 30% to 7,055,000 tons.

Oct 10. Goldman Sachs cuts Gazprom target price 1%, leaves Buy recommendation unchanged.

Finamrus com 10.10.2007 17:35
http://www.finamrus.com/newtopics/news03B20/default.asp

Goldman Sachs (GS) has revised downward its target price for Gazprom's shares from $13.30 to $13.20, GS said in an equity research note. The Buy recommendation on the gas holding's securities was left unchanged. GS analysts adjusted the gas giant's valuation model taking into account a more conservative forecast for the gas holding's gas exports this year, the fact that its pension fund is no longer listed on its balance sheet and a contraction in Gazprom's treasury stocks. Be that as it may, Gazprom's stocks still hold substantial upside potential to the level GS analysts project, and they therefore reiterated their Buy recommendation.