Russia Opens Pricing Cases against MMK, NLMK & Severstal
Pricing CartelWiki

Russia Opens Pricing Cases against MMK, NLMK & Severstal

TASS reported that Russia’s Federal Antimonopoly Service has launched three cases against MMK, NLMK and Severstal because they maintained

TASS reported that Russia’s Federal Antimonopoly Service has launched three cases against MMK, NLMK and Severstal because they maintained monopolistically high prices on the flat-rolled steel market. According to the FAS, Severstal, MMK and NLMK maintained monopolistically high prices. Given that signs of violating the anti-monopoly legislation were unveiled in the actions of the companies that are rivals on the market of hot-rolled products, FAS has launched separate cases against each company. This type of inquiry will prevent the rival companies from getting access to each other’s commercial information, and coordinating their positions and actions

The audit came on the heels of a statement that the service had received pointing to unreasonable price hikes for hot-rolled flat products. According to the FAS, the price hikes surged faster than those of commodity costs. "The demand from Russian consumers did not soar, which consequently could not trigger an increase of prices by more than 50% in the first half of 2021. These producers may face turnover-based fines if the fact of a violation is established.”

No stories found.
SteelGuru Business News
www.steelguru.com