Azovstal posts net loss for Q1

Azovstal Iron and Steel Works, a subsidiary of Ukraine's largest vertically-integrated mining and steel group Metinvest, has announced a net loss of UAH 816.92 million ($100.3 million) for the first quarter of the current year, 3.3 times greater than the loss recorded in January-March 2011. The company's net revenues for the first quarter decreased by 23.1 percent year on year to UAH 6.669 billion ($0.8 billion).