The court suspended the dispute between NLMK and FAS in the “metallurgists’ case” – Kommersant

The Moscow Arbitration Court suspended the proceedings (.pdf) according to the claim of the Novolipetsk Iron and Steel Works (NLMK, MOEX: NLMK), who challenged the measures imposed by the FAS of Russia, follows from the file of cases. Previously, the service established that since 2021, the plant has maintained monopolistic high prices for rolled products in the domestic market.

The reasons for the suspension of the case are unknown. NLMK asked to recognize the turnover fine imposed in February 2022 as illegal. The exact amount of the fine was not indicated in the court materials. As Prime points out, it can be comparable in size to the fine imposed on Severstal – more than 8.7 billion rubles. NLMK is challenging the decision to hold NLMK administratively liable in the arbitration court of the Lipetsk region. In January, the case was suspended pending consideration of the dispute in the Moscow Arbitration Court.

“The Case of the Metallurgists” is a case against three metallurgical giants: NLMK, Severstal, Magnitogorsk Iron and Steel Works. According to the FAS, since January 2021 they have violated antimonopoly legislation by setting prices for hot-rolled flat products on the domestic market, although there were no market factors to increase domestic prices to export levels. In September, the FAS imposed turnover fines on violators. All three companies challenged the FAS decision.

In January 2024, the Moscow Arbitration Court recognized the decision, the FAS order and a fine in the amount of 8.7 billion rubles as legal. in relation to Severstal in the “metallurgists case”.

Read more about the government’s response to the FAS initiative – “The authorities will monitor steel prices”.

Anastasia Larina