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Australia's BlueScope Steel fined $36.9 million over attempts to establish price-fixing cartel

By Saloni Sinha ( August 29, 2023, 01:04 GMT | Insight) -- BlueScope Steel and the company’s former general sales manager, Jason Ellis, have been fined $36.9 million and $369,000, respectively, for attempting to induce multiple Australian flat-steel distributors, as well as an import trader and one overseas manufacturer, into price-fixing cartels. Federal Court of Australia Judge Michael O’Bryan announced the penalties today, telling the court that the fines were “appropriate for the offending conduct” that included attempts to induce understandings with competitors that contained cartel provisions.Australia’s BlueScope Steel and the company’s former general sales manager, Jason Ellis, have been fined A$57.5 million ($36.9 million) and A$575,000, respectively, for attempting to induce multiple Australian flat-steel distributors, as well as an import trader and one overseas manufacturer, into price-fixing cartels....

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