Investigation has begun in relation to 3 Russian factories due to a sharp rise in prices for rolled metal

The Federal Antimonopoly Service (FAS) of Russia has launched an investigation into three Russian steel mills, Severstal, NLMK Group and MMK, due to a sharp rise in prices for hot rolled coil (HRC).

Domestic consumers noted that rolled steel prices rose sharply and FAS had evidence to suspect that three major steel mills were monopolizing the high-priced hot rolled steel market.

If the monopoly of Severstal, NLMK Group and MMK is confirmed, they will have to pay turnover fines.