FAS filed a case against Promsort due to a 25% increase in prices for fittings
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The Federal Antimonopoly Service (FAS) has opened a case against the Promsort group of companies in connection with an increase in prices for fittings, the department’s press service reported.
The case was initiated on grounds of violation of paragraph 1 of part 1 of Art. 10 of the Law “On Protection of Competition” – establishing and maintaining a monopolistically high or monopolistically low price for a product. The Promsort group (formerly Tulachermet-Steel) includes several structures – Promsort LLC, Promsort-Tula LLC, Promsort-Kaluga LLC, NLMK-Ural JSC.
The FAS explained that the service monitored prices for reinforcement and recorded their increase by 25% from August to October, although the cost of scrap ferrous metals and iron ore raw materials remained stable and did not contribute to price increases. The agency notes that in the markets of other types of metal products prices have changed within 5%. During monitoring of prices for building materials, the service found that Promsort, as well as UK Novostal-M, “Mechel” And “Evraz“, occupy a dominant position in the market.
The FAS also referred to information from the Ministry of Industry and Trade and the Ministry of Construction, according to which Promsort increased the price on the domestic market by 20-25%. FAS monitoring confirmed this.
“The price for fittings set by the Promsort group of companies exceeds the amount of costs and profits necessary for its production and sale,” the department emphasized. The service will analyze the reasons for the price change. If the companies are found guilty, they face a turnover fine.
In addition, the FAS sent inquiries to the dominant companies on the market regarding the reasonableness of prices.
September 21 Ministry of Industry and Trade reported, which suggested that metallurgists work on options for reducing the cost of fittings for the construction of facilities under regional or state orders. On September 29 it became known that the ministry sent a request to the FAS to issue instructions to valve manufacturers regarding unreasonable price increases.
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