Glencore International Plc, the largest publicly traded commodities supplier, is studying an acquisition of ferroalloy assets held by Russia’s OAO Mechel, according to three people with knowledge of the deliberations.
OAO GMK Norilsk Nickel offered to buy back a 15 percent stake held by United Co. Rusal for $8.75 billion as billionaires Vladimir Potanin and Oleg Deripaska battle for control of the world’s largest nickel producer.
Alexey Mordashov, the Russian steel billionaire who lost more than $2 billion on the sale of U.S. plants, is defying economic forecasts with a spending plan set to boost capacity at Severstal North America by 45 percent.
OAO Novolipetsk Steel, Russia’s biggest producer of the metal by market value, started building a rolling mill without waiting for 32 billion rubles ($1 billion) of funding it requested from the government.
OAO Mechel will rebound as investors dismiss concerns the Russian coal company will lose a mining license to buy shares trading three times cheaper than peers, Otkritie Financial Corp. and Renaissance Capital say.
OAO Mechel, the Russian coal producer controlled by billionaire Igor Zyuzin, is assessing whether to sell a stake in a mining unit to help fund its largest project, said three people with knowledge of the matter.
OAO Raspadskaya jumped to the highest in a week after a venture between its management and Evraz Plc, the steelmaker part-owned by billionaires Roman Abramovich and Alexander Abramov, agreed to sell 6.2 percent in the Russian coal producer’s buyback.