Russian agency suspects MMK, NLMK and Severstal violated antimonopoly laws

Russia's Federal Antimonopoly Service (FAS) preliminary concluded that starting in January 2021, Severstal, Magnitogorsk Iron & Steel Works (MMK) and Novolipetsk Steel (NLMK) established and maintained monopolistic high prices for hot-rolled flat products on the domestic market, it said on Wednesday December 29.

"Starting from January 2021, companies' prices for hot-rolled flat products have increased disproportionately to the changes in the costs which Severstal, MMK and NLMK required for the production of products....


Elina Virchenko

December 29, 2021

22:00 GMT