STEEL PLATE PRODUCTION

Press, Volume CIX, Issue 31880, 7 January 1969, Page 3

STEEL PLATE PRODUCTION

Broken Hill Plans Rise

(N.Z. Press Assn.—Copyright) SYDNEY, January 6.

The Broken Hill proprietory Company, Ltd, which last week announced price rises of about 2 per cent for most of its steel products, will increase production of steel plate at its Port Kembla plant from 500,000 to 900,000 tons a year by the first half of 1970. A new second stand is being added to the 140 in plate mill, the company said in a statement today. Construction and installation of the mill and ancillary equipment began in December, 1967, and work has now begun on the final section.

B.H.P. said the section, which included a furnace and plate finishing line, would involve an expenditure of 88,658,000. Steel plates produced at Port Kembla are used for ship building, large diameter pipes, fabrication of large beams and box girders for buildings and bridges, railway wagons, large tanks and containers and pressure vessels.

Price Rises The 2 per cent price rises announced last Thursday will apply to most of the steel products of B.H.P. and Australian Iron and Steel Propriettory, Ltd. B.H.P. said the adjustments were caused by higher costs of most essential materials and services, including “a considerable rise in labour costs over the last two years.” Prices were increased about 3J per cent in August, 1966. Describing the rises as “long-anticipated,” the Australian Financial Review said their effect on the price of steel sold to the building, automotive and consumer durables industries might not be known for some time. The size of the increases was dampened by rising import competition and B.H.P.’s bid for a bigger export market, the newspaper said.