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Chinese Anti-Monopoly Bureau fines Shandong cement cartel US$35m Written by Global Cement staff 17 February 2021 China: The Anti-Monopoly Bureau of the State Administration for Market Regulation has fined eight cement companies US$35m for price fixing. Caixin reports that seven companies in Shandong province formed Zibo United Cement Enterprise Management in 2017 to manage their arrangement through invoicing, sales, setting prices and coordinating operating regions. The extent of the anti-competitive behaviour between the companies extended to organising a price management committee to manage the arrangement by monitoring sales and even fining members in breach of its self-declared rules. As well as Zibo United, the other companies in the cartel were Shandong Baoshan Technology, Shandong Donghua Cement, Shandong Shanlü Environmental New Material, Zibo Luzhong Cement, Shandong Chongzheng Special Cement, Zibo Shansh ....
China Regulator Smashes Cement Price-Fixing Cartel A 22-month investigation by a provincial market supervision administration unearthed a meticulously implemented cartel scheme in which seven local cement firms banded together to coordinate pricing. Photo: IC Photo Market regulators have taken a sledgehammer to a sophisticated cement industry price-fixing scheme in East China’s Shandong province, fining eight companies a record 228 million yuan (35.4 million) for violating the Anti-Monopoly Law. A 22-month investigation by the provincial market supervision administration unearthed a meticulously implemented cartel scheme in which seven local cement firms banded together to coordinate pricing, monitor all of their inputs and output, and even punish any of their number that erred. ....