IRON AND STEEL

Auckland Star, Volume LXXIII, Issue 254, 27 October 1942, Page 5

IRON AND STEEL

AUSTRALIAN PRICES RAISED From the opening of business on October 12 price or pig iron and marketable steel products produced by Broken Hill pty. Co., Ltd., and Australian Iron and Steel, Ltd., was increased °y £ 1 5/ and £2 10/ a ton respectively. These increases had been made after exhaustive examination of costs and profits for the parent company and its subsidiaries, said Professor Copland. Prices Commissioner. Increases were attributable solely to heavy increases in costs over the last 18 months and could not be offset by JW er turnover or further improvements in efficiency. There had been no advance in iron and steel prices in Australia since war began, he continued, and no oth&r steel-producing country had such a record. Shipping difficulties had sharply raised transportation costs of iron ore from South Australia, and need to quarry ore in N.S.W. of a metallic standard less economical to process and general wages increases were other factors. Australian pig iron price now would be £5 15/ a ton, about £.2 12,6 lower than the British prlce * „ Respective prices lor merchant steel bars ?o re i« i « 12 , 8 and £ 21 2/11 a ton, a margin of £8 10, 3 in favour or Australia.