Aug 20. The Federal Antimonopoly Service will force Mechel Group to cut coking coal prices by 15%, head of FAS Igor Artemiev said. "We will recommend that the company lowers prices 15% from September 1 to the end of the year" – he said. According to the head of FAS, Mechel is prepared to slash prices as recommended by the antimonopoly authority. "Today we received positive signals from Mechel and other coking coal producers saying they are prepared to decrease prices 15%" – he said. The protocol of administrative violation with indication of the amount of fine will be issued to Mechel on Wednesday, Artemiev said. Instructions to Mechel will contain a provision whereby the company will be obliged to notify the antimonopoly agency about an increase in prices. Speaking of measures aimed at slashing prices in the industry, Artemiev said that "long-term supplies send a positive signal and point to stability." "In our opinion, soon we could see events on the market related to a reduction in metal prices, albeit marginal, as a result of lower coking coal prices", Artemiev went on to say. Mechel confirmed that the company is prepared to voluntarily decrease prices by 15%. However, the company refrained from further comments until formal documents are received.