OREANDA-NEWS. November 10, 2011. The Federal Antimonopoly Service (FAS Russia) terminated the proceedings against “Magnitogorsk Iron & Steel Works” OJSC (“MMK” OJSC) upon the signs of violating Clause 3 Part 1 Article 10 of the Federal Law “On Protection of Competition” due to absence of antimonopoly violations, reported the press-centre of FAS Russia.

The case was initiated upon petitions from “Chelyabinsk Tube-Rolling Plant” OJSC (“Chelpipe” OJSC) and “TMK” Trading House” CJSC against “MMK” OJSC imposing disadvantageous contract conditions.

According to the petition of pipe companies, in January 2011 “MMK” OJSC unilaterally increased prices for large massive plates.

Investigating the case, FAS Commission has looked into all facts and circumstances affecting the pricing policy of “MMK” OJSC and has found that the company’s actions were economically justified.

Therefore, FAS terminated the antimonopoly case against “MMK” OJSC.