09:28 GMT +317 December 2017
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    RUSSIAN COMPANIES BLOAT METAL PRICES-BOSSES TO LAND IN THE DOCK?

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    MOSCOW, April 13 (RIA Novosti) - Russia's corporate metal producers are shamelessly bloating prices. Criminal proceedings may start-the Federal Anti-Monopoly Service does not rule that out, warned Andrei Tsyganov, Deputy Minister for Anti-Monopoly Policies and Promotion of Private Enterprise. He was addressing a roundtable the federal Chamber of Commerce and Industry gathered in Moscow today.

    The service was considering a dispute last year as several metal producing companies had trespassed federal anti-monopoly laws. Expert analyses brought to surface coordinated pricing policies by two mammoths-the Severstal steel company and the Magnitogorsk Iron-and-Steel Combine, which had been simultaneously boosting prices.

    Prices are skyrocketing again now-roughly by 30 per cent between the year's start and this month alone. Affected companies are showering the Federal Anti-Monopoly Service with complaints. The Prime Minister ordered the matter delved into on two occasions for now.

    The service has stocked up a solid amount of facts and figures to prove metal price bloating. Proceedings would have started immediately-but Mr. Tsyganov's ministry is too busy reshuffling its structure on a current administrative reform, he said.

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