PRICE OF STEEL
MANY INDUSTRIES AFFECTED United Press Association—By Electric Telegraph—Copyright (Received January 5, 6.30 p.m.) SYDNEY, January 5 Leading Sydney steel companies supplying fabricated steel for building construction, will raise prices to-day by 3.2 per cent, in consequence of the rise in prices of steel. The cost of building, car body manufacture, shipbuilding and railway maintenance, is expected to follow the rise in steel prices. Defence costs will be higher in future.” From January 4, the wholesale mill steel price will be 5/- to 20/- a ton higher in Australia. Uncompleted orders which have been in for some months will be affected by the increase. This announcement was made by the Broken Hill Proprietary Company and the Australian Iron and Steel Company, the two largest manufacturers in Australia.
The manufacturers stated that the increases are necessitated by higher manufacturing costs. Rearmament programmes have also made a great demand on the steel industry. The bulk of the increases will be at the rate of 10/- a ton.
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Bibliographic details
Timaru Herald, Volume CXLIII, Issue 20928, 6 January 1938, Page 7
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167PRICE OF STEEL Timaru Herald, Volume CXLIII, Issue 20928, 6 January 1938, Page 7
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