FAS to Check Metal Companies for Collusion on Prices for Rebar

The Federal Antimonopoly Service (FAS) is checking the largest Russian manufacturers of valves for possible collusion, which has led to an increase in prices, Russian media reported.

Checks are being carried out at NLMK, Novostal-M, Tulachermet-Stal, and PMH, FAS stated.

“The FAS has data at its disposal that may indicate signs of price collusion, the consequence of which may be an increase and maintenance of the selling prices for rebar. At the request of citizens and organizations about the rise in metal prices (including rebar), the FAS conducted price monitoring “, the service notes.

FAS found that prices for rebar increased by more than 50% over the past year. Metallurgical companies said that one of the reasons for the rise in prices was the rise in metal prices in foreign markets.

However, “FAS recorded an increase in prices on the domestic market during a decline in external indicators … The circumstances were established that may indicate the presence in the actions of the largest manufacturers of valves of signs of the conclusion and implementation of price collusion aimed at increasing and maintaining the selling prices for valves.”

In this regard, the FAS conducts unscheduled on-site inspections for the conclusion of an anti-competitive agreement.