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Russia's Mechel posts 29.6% drop in steel output in 1Q09


MOSCOW, April 27 (RIA Novosti) - Mechel's steel output dropped by 29.6% year-on-year in the first quarter of 2009 to 1.1 million metric tons, the Russian steel giant reported on Monday.

Vladimir Polin, Mechel's senior vice-president, said the drop was primarily caused by falling demand on the global market.

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