OREANDA-NEWS. Mechel's net loss under Russian Accounting Standards (RAS) amounted to RUR944,422m (approx. USD37m) in the first quarter of 2007 against a net profit of RUR983,24m (approx. USD38m) in Q1 2006.

The Russian integrated mining and steel group attributes the quarterly net loss to an insignificant change in the market value of some of its financial investments in stocks compared to Q4 of 2006, when it posted a net profit of RUR34,356m (approx. USD1,33m).