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Severstal's surprise profit

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Severstal's surprise profit

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Russia’s largest steelmaker, Severstal, has posted an unexpected third-quarter net profit.

It said the almost 45 million euro profit was due to a strong performance at its plants in Russia. By contrast its US operations lost 52 million euros. Severstal said, based on greater stability in its main markets, it is increasingly optimistic about the future.