Antitrust sees Russia’s rebar prices falling by 7% on average

MOSCOW, Nov 7 (PRIME) – Russia’s prices for rebar contracted by 7% on average from mid-October through the beginning of November, the Federal Antimonopoly Service is in control over the situation, the service said in a statement on Tuesday.

“The service’s data shows that the prices for rebars contracted by 7% on average from mid-October through November. Still, the pricing situation on this market is under control of the service,” the statement read.

In late September, Deputy Industry and Trade Minister Viktor Yevtukhov said that the recent growth of rebar prices was caused by decisions of some companies instead of objective factors, and asked the antimonopoly watchdog to call om them to behave. In October, the service launched a case against Promsort group of companies over a 25% increase of their prices for rebars.

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