THE PRICE OF STEEL

Waikato Times, Volume 122, Issue 20389, 4 January 1938, Page 7

THE PRICE OF STEEL

AN INCREASE IN AUSTRALIA CAUSED BY HIGHER COSTS NEEDS OF RE-ARMAMENT United Press Assn.—Elec. Tel. Copyrig-ht SYDNEY, January 3 From to-morrow morning the wholesale price of mill steel will be from five to 20 shillings a ton higher. Uncompleted orders which have been in hand 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 state that the increases are necessitated by the 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 shillings a ton. RECORD YEAR REVIEWED BIG INCREASE IN OUTPUT £8,000,000 MORE IN WAGES (Official Wireless) (Received Jan. 4, 11.0 a.m.) RUGBY', January 3 The British Iron and Steel Federation, in summing up the trade position at the end of the year, states that the steel industry has entered upon 1938 at a record rate of output, in the hope of reducing undelivered orders to more normal proportions during the current year. The industry is to spend a further £lo.ooo.non on expansion, and work is proceeding on large projects in South Wales, on the Clyde, and in LincoJnin many ways lasi year was a record one for the trade. The output of steel ingots and castings increased by over 1.000, n0n tons over 1930, wages increased by £5,000.000 on the previous Tear and Ihc number ot' employees constituted a record.