The Federal Antimonopoly Service has opened a case against Kovdor Mining and Processing Works after Severstal’s report on the enterprise iron ore price increase in early 2017.
The FAS has found out that Kovdor GOK is the only manufacturer in Russia of concentrate with 6% magnesium content.
Its cost in January increased by 48% MoM and by 128% YoY, while its prime cost had no significant changes.
At the same time concentrate sales price to Severstal exceeded world prices, while Kovdor GOK exported it at the price much lower than the local prices. (Ukrainian metal)