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2011 Annual Report - The Commerce Commission

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Table 12: Summary of Steel Industry Related Activities - <strong>2011</strong>Date of Determination Industry Submission/ Issues <strong>Commission</strong>s Action/Determination25/02/<strong>2011</strong> Steel Fletcher Pacific Steel Fiji (FPSF)requested for an increase inwholesale rebar prices for Grade300 & Grade 500 based on thefollowing:<strong>The</strong> <strong>Commission</strong> after undertaking a detailed analysis of the submission byFPSF and conducting its own independent investigation and computationsdetermined that as an interim measure, the price for re-bar steel of Grade300 and Grade 500 would remain the same and be further extended to 30April <strong>2011</strong>. Increase in raw materialprices due to scrap pricemovement and Devaluation of the FijianDollar against New ZealandDollar.18/03/<strong>2011</strong> Steel Fletcher Pacific Steel Fiji (FPSF)requested for a review of theirrebar prices.In its determination, the <strong>Commission</strong> notified FPSF that a detailed analysis ofthe submission including investigations into the operations of FPSF will beundertaken.<strong>The</strong> <strong>Commission</strong> after undertaking a detailed analysis of the submission byFPSF and conducting its own independent investigation and computationsgranted an interim increase of 9.5% until 31 May <strong>2011</strong>, taking into accountthe increase in electricity tariff (in effect from 1 April <strong>2011</strong>) and thestrengthening of the Fijian dollar against the New Zealand dollar.<strong>The</strong> <strong>Commission</strong> had further advised FPSF that an in-depth investigation intothe operations and financials of FPSF will be undertaken before a finaldetermination is released.Page196of236

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