Centrum Stosunków Międzynarodowych - 23 August 2016: ArcelorMittal South Africa to pay $110 million for anticompetitive behavior

ArcelorMittal South Africa, the continent’s biggest steel producer, provides 61% of South Africa's needs for this metal. An investigation was launched in 2008 by the Competition Commission after raising concerns that the company colluded with its competitors concerning the fixation of prices and allocation of customers. "The company, known as AMSA, admitted guilt on allegations of fixing prices, allocating customers and sharing commercially sensitive information on long-steel products. It also admitted to fixing scrap-metal prices". The settlement is to be paid in five years, and the company also agreed to spend 4.6 billion rands in capital expenditure. Finally "The penalty sends a strong message of deterrence and is an important milestone in the Commission's enforcement against cartels," Commissioner Tembinkosi Bonakele told.