Owner of Russian Steel Maker Sees Troubled 2014 for Industry

Newswire

* Says 60 pct of sector to stay cashflow-negative in 2014 * Severstal to cut staff by 2-3 percent this year * Targets high-end grades to counter aluminium substitution By Andrey Kuzmin and Svetlana Burmistrova MOSCOW, Feb 28 (Reuters) - Global steel prices will remain flat in 2014, keeping almost two-thirds of producers cashflow-negative, the billionaire owner of Russia's second-biggest producer Severstal said in an interview. Steelmakers have been battling weak steel prices and flagging ...

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