Spanish Competition Authority launches steel cartel probe

Friday, 31 July 2020 10:33:56 (GMT+3)   |   Istanbul

Spain’s Competition Authority has started an investigation against 14 steel companies for exchanging information about the domestic purchase prices of scrap and steel prices, especially long products, to determine the future price in the market for the purchase of iron scrap.

The companies under investigation include ArcelorMittal Spain and its subsidiaries, CELSA and its subsidiary Ferimet; Group Gallardo Balboa and its subsidiary Siderúrgica Balboa; Metalúrgica Galaica and its parent company Bipadosa; Siderúrgica Sevillana and its parent company Riva Forni Elettrici and Sidenor Aceros Especiales and its parent company Clerbil.

The investigation is scheduled to be completed within 18 months.

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