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MITSUBISHI CONVICTED OF PRICE-FIX

A federal jury has convicted Mitsubishi Corp. of conspiring to fix prices in the fastest-growing segment of the U.S. steel industry.

Mitsubishi was found guilty of aiding and abetting a conspiracy to stifle competition in the graphite electrode industry, an antitrust violation that carries a maximum $10 million fine. Sentencing is scheduled for May 10.

The government said the conspiracies caused steelmakers to pay higher prices for graphite electrodes used to melt scrap and refine steel for a variety of business and consumer items.

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