The US Court of Appeals in Philadelphia has reversed a lower court decision dismissing the class action lawsuit brought by Resco Products Inc. in 2005 against Chinese magnesia exporters China Minmetals Corp. and Sinosteel Corp.
The federal appeals court ruled that China Minmetals, China’s largest state-owned minerals trader, and Sinosteel must face claims that they conspired to fix the price of magnesia sold in the USA.
Apparently, the lower court erred in its April 2010 ruling in dismissing the...