New Britain herald., 1916-10-05
STEEL AND IRON
 CONTINUE CLIMB
Higher Prices Have Little Effect
 on Manufacturers Demand

The Iron Age says today: Heavy buying of pig iron accompanied by price advances on top of those of last week is the outstanding feature of the iron market. It comes while evidence is accommodating of the trend of finished steel to still higher prices Export demand Is partly responsible in iron as 1t has been in steel, but with high levels regarded as certain for months to come, domestic pur- chases, one after another, are, after repeated postpOnements, b @ 1 n brought forward. In the face of a shortage of labor for the increased business, the mills have difficulty in adding to production and shortening deliveries, yet buyers could use more material the result is a growing price strength.
 The greatest activity has occurred in Bessemer and basic pig iron, which have risen $1.25 per ton in two weeks LoW-phOsphorus iron has been con- spicuOus, some 60,00O tons and per- haps as much as 100000 tons being taken for export at rapidly advancing prices. As high as $35 per ton was paid and quotations are at present above this figure. The present move ment in basic iron for export has taken close to 10000 tons from one Alabama producer, and another Southern basic producing interest has refused additional offers after selling 100000 tons
 Foundry buying has also improved In Chicago this has resulted in part through the adjustments Of labor diff faculties in that city and in Milwaukee, Foundry irons are 25c and soc per ton higher, and likely to climb fur ther if more stacks are put on basic iron. Buffalo furnaces have taken 25,0O0 tons for the East and in the last six weeks 100000 tons has been booked in Birmingham.
 Pig-iron production has been bet tered, as expected, responding in part to the more favorable weather con- ditions of September over those of August. Last months total for the 30 days was 3,202,366 tons, or 106,- 745 tons a day, against 3,203,713 tons for August, or 103, 346 tons day. The month opens up well with BPS furnaces in blast, with a daily ca
 
 furnaces. or 319, which started Sep tember, representing a daily produc- ing rate of 104, ,502 tons.
 An Illuminating illustration of the diminishing check on buying caused by high price levels is the quiet in Quiry for steel bars being made by the implement manufacturers. It ap- pears that consumers of their machin- cry are buying heavily, one interest indeed in Southern territory ordering five times more than a year ago. In cidentally, what steel bars are avail able for relatively early delivery are now $3 per ton higher
 Structural steel is also stiffening. It is believed that as much fabricated work was contracted for in Scptem- Der as in April or perhaps May of this year. The steel has been placed for the New York Central Hotel, New York, taking ,OOO tons, and for buildings at the Norfolk Navy Yard requiring 4000 tons. An advance of $2 a ton for plain material on con- tract already made by a number of mills is likely to be general in a few days.
 About 2,500 cars have been bought by the railroads, but there is no let up III tile uoI1ldnu LOT pldlSS IL IS estimated that there are no less than 100000 tons in the market at the present time, half for export. Some 60,000 tons are involved in the 560 miles of eight inch and 220 miles of six inch pipe for the Sinclair Oil & Refining Corporation for a line from ] Tulsa to Chicago. It was necessary ] to distribute this business among three mills. Some 1000 tons has been bought for shipbuilding purposes at Staten Island and more is wanted. i Japan has paid as high as 1ac.
 The August exports of iron and steel broke the record They totaled 59S,- ' 192 tons, against the high total of | $40, ,OO0 tons in May. The figures bear out the contention that the smaller amounts for June and July did not 1 mean that the high point of the ex- ! port movement had been passed, and l indeed the showing of the steel works ! order books at the time was other wise
 The signs are that tin-plate prices for the next year will be higher, and !! box annealed sheets, though them | selves not in unusual demand are now OuOted at & 10C Pittsburgh. as a. mfn- ]