Antitrust launches case against Severstal, MMK, NLMK over prices

MOSCOW, Apr 27 (PRIME) -- The Federal Antimonopoly Service has launched a case against steelmakers Severstal, Magnitogorsk Iron and Steel Works (MMK), and Novolipetsk Steel (NLMK) over monopolistically high prices for flat-rolled products, the service said in a statement on Tuesday.

“The antitrust has launched three cases on the market of flat-rolled metals products. The service thinks that companies Severstal, MMK, and NLMK maintained monopolistically high prices,” the statement read.

Consideration of the three cases separately will help prevent access of the competitor companies to each other’s commercial and will not allow them to coordinate position and actions. If the service proves the violations, it may impose turnover-based fines.

End %%md/jst%%