THE PRICE OF THE OPERATION OF THE EUROPEAN STEEL AND STEEL COMPANY IS SEVERELY PUNISHED

German News reported on the 12th that the German Federal Antitrust Office announced on the same day that three steel companies, including ThyssenKrupp, which was involved in price manipulation, had imposed a huge fine of 646 million euros. German regulators said representatives of the three companies met regularly between 2002 and 2016 to agree to a price increase of 20 to 25 percent of the total price of German single rolled steel plates. ThyssenKrupp declined to disclose the exact amount of the fine, but said the company's risk arrangements had covered the amount. ThyssenKrupp's 2018-2019 results showed that the group added 100 million euros to pay the fine. Germany's federal antitrust office last month fined three German car giants BMW, Daimler and Volkswagen a total of 100 million euros for "anti-competitive measures" in purchasing certain steel products.www.rogosteelpro.com

 

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