The largest Russian metallurgical companies Severstal, NLMK and MMK intended to negotiate and reach an agreement with the Federal Antimonopoly Service (FAS) of Russia on the metallurgical monopoly case.
Earlier in February 2022, the Federal Antimonopoly Service of Russia believed that MMK, NLMK and Severstal had violated antitrust laws since January 2021 by setting and maintaining monopoly high prices for hot-rolled steel in the domestic market. The Federal Antimonopoly Service ordered them to stop the abuse of their dominant position and ensure fair competition in the steel market of the Russian Federation.
Severstal was fined more than 8.7 billion rubles, two more companies received fines of a similar size. Negotiations are still ongoing.
Severstal, NLMK and MMK are trying to resolve the dispute with the Federal Antimonopoly Service amicably
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