Scrap metal cartel in Australia fined $364,000 for price-fixing

Dec 13, 2004 | 09:32 AM | Paul Schaffer

Australia's Competition and Consumer Commission says its action against a scrap metal cartel in New South Wales has led to court fines equivalent to $364,000.

The convictions in federal court in Sydney were primarily based on cheating at four 1999 auctions involving material from the former Broken Hill Proprietary Co. Ltd. However, the commission said, "evidence was given by witnesses that the rings had operated at scrap metal auctions in New South Wales for decades."....

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