MMK, Russia’s third largest steel producer, on Friday joined rivals Severstal and NLMK in pinning a gloomy forecast to its third quarter results as the falling price of steel undermines business. Read more

Minority shareholders in Russia have generally a hard time getting their voices heard. So it’s interesting to say the least that the owner of a miniscule stake in Magnitogorsk Metallurgical Combine has succeeded in derailing the Russian steelmaker’s plan to expand internationally and take over Flinders Mines, the Australian iron ore miner. Read more