Federal Anti Monopoly Service opens investigation into Evraz and Raspadskaya
Published: 30 July, 2008, 14:08
Russia's Federal Anti Monopoly Service (FAS) has opened an investigation into possible price fixing by Russia's 2nd-biggest steelmaker Evraz and coalminer Raspadskaya.
The watchdog claims the companies abused their dominating position in the coking coal market.
Along with Mechel, Raspadskaya Coal and Evraz Holding control over 50% of the market.
Analysts say that prices began to rise significantly last year and roughly doubled by April 2008.
The FAS claims the companies were artificially creating a shortage of certain types of coking coal on the market.
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