§ Mr. Hooleyasked the Minister of Power if he has received the report of the National Board for Prices and Incomes on non-alloy bright steel bars; and if he will make a statement.
§ Mr. Roy MasonThe Report of the N.B.P.I. (No. 118) is published today. It recommends that producers should be allowed to raise prices of non-alloy bright bars only to the extent that the purchase price of their own mix of black bars (from which bright bars are made) has risen, based on the B.S.C. price list, plus 14s. a ton for the increase in conversion costs. How these increases are to be applied to the various types of non-alloy bright steel bar should be left to the individual company.
The Government accepts these recommendations, and makers of non-alloy bright steel bars may now raise their prices to this extent if they so wish. Any other increases in bright steel bar prices will continue to be subject to early warning in the normal way.