- Business
- Mechel PAO operates as a vertically integrated mining and metals company in Russia, producing and selling steel products, coal, coke, and energy through three main segments: Steel, Mining, and Power. The Steel division manufactures semi-finished products, long products including rolled products of carbon and special steel grades, flat rolled products of carbon and stainless steel, high value-added items such as forgings, stampings, hardware, rails, wire products, structural shapes, beams, and ferrosilicon; the Mining division extracts and sells coking coal concentrate, anthracite, PCI coal, steam coal, iron ore concentrate, coke, and chemical products; the Power division generates and sells electricity, heat, capacity, and related services including blast furnace blast, technical water, and compressed air, primarily supplying the company's internal operations with partial sales to third parties. The company, founded in 2003 and headquartered at 1 Krasnoarmeiskaya Street in Moscow, Russia, conducts operations through subsidiaries across Russia including in the Kemerovo, Chelyabinsk, and other regions, with international marketing arms like Mechel Carbon AG in Switzerland and ports on the Sea of Japan, Sea of Azov, and Kama River; it primarily serves metallurgical, mining, industrial, and wholesale energy markets domestically. Mechel PAO changed its name from Mechel OAO in March 2016 and maintains its core structure without major publicly disclosed acquisitions, partnerships, funding rounds, or strategic shifts in 2024-2025, amid ongoing operational challenges including production cuts in coal and deepening losses reported in September 2025.