STEEL PRICE INCREASE
The steel " control " has been more persistent than most of the new controlling authorities in its efforts to keep down prices. It has succeeded in keeping prices of the principal iron and steel products in this country well below the domestic price levels of competitive overseas countries, Nch as Belgium and the U.S.A., even though the British sted industry uses a large quantity of imported raw material as which higher freight and insurance costs have to be faced But the control cannot indefinitely flout the influence el higher transport and raw material costs. It can only delay their effect and prevent their being used as an excuse for unjustified advances.
Thus it has come about that a further moderate increase in prices has had to be granted. The increase amounts a Cr a ton on semi-finished and heavy steel products, and la 3s. a ton on pig-iron. This advance, which amounts in mar instances to less than ro per cent., is only the second granted since the war began. An increase of approxirrately io per cent. was granted in November. The price incrust now enforced is not payable to the steel manufacurers Like the increase which came into effect on November IsL it is payable into a central fund out of which the add:nod costs, including freight charges on imported materials, ne to be equalised.
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