Mr. Eddie Griffithsasked the Minister of Power if he will direct the British Steel Corporation to amend its proposed price adjustments of alloy steels and associated products, now before the National Board for Prices and Incomes, in view of the increase in the price of nickel.
§ Mr. MasonThe Corporation recently gave notice under the early warning arrangements of a proposal to increase its prices for nickel-bearing steels to reflect the increase in the price of nickel. The proposed increases will be examined by the N.B.P.I. as part of its current inquiry into steel prices.
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Mr. Eddie Griffithsasked the Minister of Power if he is aware that the submission of the proposed British Steel Corporation steel price increases to the National Board for Prices and Incomes is causing customers to increase their stocks of certain steel products; what effect this has had on the British Steel Corporation's delivery schedules; and if he will make a statement.
§ Mr. MasonStockbuilding has increased recently, but this was probably due to the expectation of an increase in consumption and to the fear that production might be interrupted by industrial action as well as to the price proposals. The Corporation tells me that delivery times have lengthened as a result of the current high level of demand but the volume of deliveries to the home market is very high.