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Argentina's antitrust regulator to investigate ArcelorMittal unit Acindar

Argentine antitrust regulator CNDC is planning to investigate whether Acindar Industria Argentina de Aceros SA, controlled by ArcelorMittal, took advantage of its leading position in the market for long steel products, Reuters reported.

CNDC said Aug. 7 that the investigation will concentrate on whether Acindar's exclusive contracts with distributors blocked imports from entering the market at lower prices.

Commerce Secretary Miguel Braun ordered an inquiry after a study indicated that Acindar had a 68% share of the long steel products market in Argentina between 2013 and 2016.

The investigation may result in fines or "pro-competitive government measures" for the company, according to the CNDC.

Acindar said in a statement that it provided the regulatory body with "all the documentation within its reach for a fast and efficient resolution of the matter."