MAGNITOGORSK IRON AND STEEL COMPANY (MMK) DID NOT PROVIDE DATA ON PRICING POLICY

The Commission of the FAS Russia postponed the consideration of the case until July 28, 2021

The FAS Russia held a meeting of the Commission on the case of violation of the antimonopoly law in the rolled metal products market initiated against the Magnitogorsk Iron and Steel Works PJSC. The case was initiated on the grounds of establishing and maintaining a monopolistically high price for hot-rolled products.

During the meeting, the representatives of MMK failed to answer several questions, including those related to the company's pricing policy in the hot-rolled flat products market on domestic consumers and announced their readiness to provide the Commission with the necessary data on the next meeting.

The National Racking and Storage Equipment Association also filed with the Commission a petition to participate in the case. The companies-members of the Association are involved in the production of racks, equipment of storage and retail areas. In their activities, they depend on the prices of commodities, including the prices of hot rolled products. The Association accounts for up to 95% of the supply of all racking equipment in Russia and the CIS countries. Thus, the members of the Association are an important group of consumers of hot-rolled products, thereby the FAS Russia decided to involve the National Racking and Storage Equipment Association in the case.