SUPPLIES OF STEEL

Press, Volume CI, Issue 29998, 6 December 1962, Page 16

SUPPLIES OF STEEL

Merchants To Form Group

(N.Z. Press Association) AUCKLAND, Dec. 5. An association to be known as the Steel Merchant Stockholders’ Association (N.Z.), Inc., with headquarters in Auckland, has been formed to co-ordinate and develop the supply of steel to New Zealand industry. Mr L. C. Ryan, managing director of Fletcher Steel, Ltd., who has been elected president of the association, said the steel merchant stockholder was now playing a more important role than ever before in the economy of the country. Until recent years, steel requirements were obtained from Britain and Australia. It was customary for users, hardware merchants and others to be direct importers. Prices were standard and grades of steel were few and straight-forward. The picture had now changed; with the substantial increase in the demand for steel.

A wide variety of grades, surface finishes and shapes had been developed and merchants were now obtaining supplies from many sources, including Europe, the United States, Canada. South Africa and Japan. Mr Ryan said wide variations and fluctuations occurred in price. Specialist steel merchants had emerged and it was now considered essential to form an organisation which could speak authoritatively for genuine steel merchants, and work to bring stability to the industry, as well as to improve standards in the distribution of steel.

Mr Ryan said members alone now handled more than 100.000 tons of steel a year with a value of more than £6 million.