Spain's National Commission on Markets and Competition (CNMC) has announced that it is investigating possible anti-competitive activity in the purchasing market for scrap metal used in steel production, consisting of coordination to fix purchasing prices of the product for scrap metal suppliers.
In November 27-29, inspections were carried out at the headquarters of several companies operating in this market. The CNMC has collaborated with inspectors from the competition authorities in the regions of the country where some of the inspected companies are located.
The inspections are a preliminary step in the investigation of alleged anti-competitive practices and do not prejudge the investigation’s outcome or the culpability of the inspected companies. If, as a result of the inspections, evidence of practices prohibited by the Defence of Competition Act is found, disciplinary proceedings will formally commence. Agreements between competitors constitute a very serious infringement of competition legislation, and may result in fines of up to 10 percent of a company's total turnover.