The Brazilian upper court STJ accepted a request by Gerdau to cancel a fine worth BRL 100 million ($19.4 million), applied against the Brazilian steel producer by the anti-trust authority Cade.
The fine dates back to 2003, when Gerdau and other steel producers were fined for an alleged cartel, where prices for rebars were established by agreement, according to accusations by civil construction companies.
Although the decision was unanimous among the members of STJ, its is subject to appeal by Cade if a similar case had a different decision by the court.