The Spanish Competition Authority imposes fines totalling €24M on 3 steel companies for disclosing information about prices, exchanging information about third party prices and sharing data on the technical shutdowns of their facilities (Balboa / Sidenor / ArcelorMittal)

The CNMC fines three steel companies 24 million euros for two very serious infringements in the scrap purchase market in Spain* The companies disclosed information to one another regarding the prices they would offer to iron scrap suppliers. In addition, they shared data on the technical shutdowns of their facilities so that they could anticipate future demand for scrap. They also exchanged information on third party competitors' prices, obtained from their suppliers, which were not yet publicly available. The investigation was initiated on the basis of anonymous information sent to the European Commission on the possible existence of a cartel in the scrap purchasing market. Madrid, 14 March, 2022.- The CNMC has

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Spanish Competition Authority, The Spanish Competition Authority imposes fines totalling €24M on 3 steel companies for disclosing information about prices, exchanging information about third party prices and sharing data on the technical shutdowns of their facilities (Balboa / Sidenor / ArcelorMittal), 14 March 2022, e-Competitions March 2022, Art. N° 105724

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