Oil's Slump Hands Profits to Russian Steelmakers as Ruble Slides

  • Dollar revenues curbing ruble costs dropping faster than steel
  • Gains may be temporary as worsening economy curbs local demand

Ruble Low Good for Commodity Companies: Deripaska

Slumping oil prices that are starving Russia of export revenue, and pushed the ruble to a record low this week, are boosting earnings for the nations’ steelmakers -- at least for now.

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