Russian antitrust investigating metal products market price rise

MOSCOW, Dec 28 (PRIME) -- Russia's Federal Antimonopoly Service is investigating a prices rise on the metal products market, including for steel rods, the authority said in a statement on Monday.

"The Federal Antimonopoly Service has registered an increase of prices on the metal products market, including for the steel bars. In order to find out whether these prices are justified, the authority is holding an investigation (requests for information have been sent to the market participants and state authorities)," the antitrust said.

The authority promised a reaction if the price growth is considered unfounded. The Russian companies produce more steel than the domestic market needs and the growth of prices is most probably due to higher foreign demand, the ruler said.

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