"Mechel Steel (NYSE:MTL) signed an agreement of intent with Posco to establish a mutually beneficial strategic partnership between the two companies.
The companies intend to examine and possibly implement projects in steel, mining and logistics in Russia, the Republic of Korea and third countries.
Mechel has a potential upside of 24.6% based on a current price of $25.34 and an average consensus analyst price target of $31.56."
