Steel firms deny price fixing

The implications of such a suit, if it was to proceed, and especially if it were certified as a class-action law suit (which seems to be what the article is implying) would be vast.

A steel company customer has accused eight major steel manufacturers, including Fort Wayne-based Steel Dynamics Inc., of colluding to scale back production to force up prices.
A spokesman for Steel Dynamics on Friday denied the allegation made in a lawsuit filed last week. Also named in the suit is Nucor Corp., which operates plants in St. Joe and Waterloo. ArcelorMittal USA Inc. and its parent company, Luxembourg-based ArcelorMittal, are listed separately, making eight companies and nine defendants.
The suit was filed in U.S. District Court in Chicago by Standard Iron Works of Scranton, Pa.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.