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AvtoVAZ Seeks Review of Severstal Steel Prices, Vedomosti Says

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Dec. 3 (Bloomberg) -- OAO AvtoVAZ, Russia’s largest automaker, asked the country’s antitrust watchdog to review a proposed steel-price increase by OAO Severstal, Vedomosti reported, citing AvtoVAZ Vice President Damir Kashapov.

Severstal may raise the prices it charges AvtoVAZ for hot-rolled coil as much as 30 percent next year, the Moscow-based newspaper said.

Natalia Ivanova, a Severstal spokeswoman in Moscow, declined to comment.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net.

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net.

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