Evraz Group and Raspadskaya to share Mechel’s fate

Another “metallurgical case” seems to be drawing to a close. Head of the Russian Antimonopoly Service (FAS) Igor Artemiev reported yesterday that similar fines are to be imposed against Evraz Group and Raspadskaya as in the case of Mechel, which we view as a good news for both companies, given that the Mechel’s punishment turned out to be quite lenient.

The Russian Antimonopoly Service (FAS) will impose sanctions against Evraz Group and Raspadskaya Coal Company similar to those taken against Mechel Group, head of the Service Igor Artemiev reported yesterday.

For the record, Mechel was found guilty and ordered to pay a 5% fine of its annual coking coal revenue and to reduce coking coal prices 15% by the end of this year. “We intend to complete the probe into the activities of Evraz Holding and Raspadsky Coal in the next two weeks," Artemiev said.