The Federal Antimonopoly Service of Russia has postponed till February 13, the hearing of the case against Evraz, Severstal and Mechel companies in respect of the rebar price growth.
In July 2016 FAS started investigation on the antimonopoly legislation violations on the market of rebars on behalf of Evraz, Severstal and Mechel enterprises. The price analysis showed that Evraz ZSMK rebars price in January-April 2016 increased by 34%, Severstal price – by 103%, while Chelyabinsk Iron and Steel Works, a part of Mechel, showed the increase of 70% from December 2015 to May 2016.
The FAS insisted that the three companies were monopolies on the market of steel rods for reinforcing and demanded copies of export contracts from June 1, 2015 till November 1, 2016, as well as information on investments into rebar machinery. (Ukrainian metal)