Eurofer To Urge EU To Launch Iron Ore Cartel Probe

Law360, New York (March 22, 2010, 2:33 PM EDT) -- The European Confederation of Iron and Steel Industries plans to ask European Union antitrust regulators to investigate possible cartel activity in the iron ore industry, based on concerns over massive price hikes for the raw material.

The group, also known as Eurofer, plans to bring a complaint to the European Commission as early as this week over demands from suppliers such as Brazil's Vale SA for 80 percent to 100 percent price increases on iron ore, Eurofer Director General Gordon Moffat told Law360 on Monday....
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