Industry News

BlueScope Steel fined $37 mln for attempting to fix prices

Views : 163
Update time : 2023-08-30 19:45:32

Adds details about December court ruling in paragraphs 2 & 3, ACCC commissioner comment in paragraph 4

Aug 29 (Reuters) - Australia's competition regulator on Tuesday ordered BlueScope Steel BSL.AX to pay A$57.7 mln ($37.20 mln) in penalty for attempting to fix prices for flat steel products supplies in the country.

In December, the Federal court had ruled against the steel producer for cartel conduct in the supply for steel products.

The court found BlueScope and its former general manager of sales and marketing tried to get distributors in Australia and an overseas manufacturer to enter into agreements with price-fixing provisions between September 2013 and June 2014.

Related News
Read More >>
Japan-focused aluminium premiums up by 13-28% amid tight supply and low global inventories Japan-focused aluminium premiums up by 13-28% amid tight supply and low global inventories
Feb .28.2026
Japan-focused aluminium premiums up by 13-28% amid tight supply and low global inventories
EGA announces $5 billion debt financing EGA announces $5 billion debt financing
Feb .28.2026
EGA announces $5 billion debt financing
40m aluminium superyacht marks the return of Tuxedo Yachting House from Ceccarelli family 40m aluminium superyacht marks the return of Tuxedo Yachting House from Ceccarelli family
Feb .28.2026
40m aluminium superyacht marks the return of Tuxedo Yachting House from Ceccarelli family
Global aluminium scrap Feb 2026 review: US surcharges, EU export fears, and Southeast Asian e-waste bans Global aluminium scrap Feb 2026 review: US surcharges, EU export fears, and Southeast Asian e-waste bans
Feb .28.2026
Global aluminium scrap Feb 2026 review: US surcharges, EU export fears, and Southeast Asian e-waste bans