Russia's largest steelmaker, Severstal, lost $290 million in the last three months, but said it sees a recovery in the steel industry.
Its plant in Warren has been idle since October, and the company is finalizing a strategy for its five plants in the U.S. Severstal said production volumes and prices started to improve in July. It's been hurt by a global downturn in construction and car production in the wake of the financial crisis.
