New Britain herald., 1916-05-19
STEEL STRAIN LESS
 INP|1TSBURGH AREA
Increase in Amount Of SeIni-Fin-
 iShed Product on Hand
The Iron A ge says:

The Iron Age says:
 Some increase in the amount of finished steel availa able for early delivery in the Pittsburg district is the latest indication of lessening strain in the steel trade As addi- tOnal new capacity is finished in the next four or five months loss is likely to be heard of a steel shortage
 Pig iron. coke and old material lave been the yielding sections of the market for several weeks. Now billects and sheet bars show indca- tons. though not pronounced, of q shading off from famine prices. Under freer offering. open-hearth Eillets and sheet bars have sold at $42 to $43 at Pittsburg as against $45 in recent weeks
 At the same time leading steel com panies have no semi-fnished steel to offer and others are as rigid as to prices as in the most fcVerish buying of January and February. The posi- ucn as to war steel is in no wise re- faxed, particularly where there is urgency about deliveries. Some steel for large shells wanted promptly has heen offered to a number of mills but none could take it on. There is con- s'derably more buying to be done for both France and Ittaly. Of 50,000 tons of to 12 in. blooms for Europe recently before the markeet 50,000 tons remains to be placed.
 Big Demands From Shipyards.
 The enormous demands of ship wards as a factor in sustaining plate prices regardless of the war are get ting more attention. The Steel Cor poration's latest bookings include 50,0oo tons of plates and shapes for vessel work, delivery in the second half of 1917, and one large plate pro- ducer has contracted with ship builders to supply half it's entire out put in the same period.
 Japanese buyers have secured the country for plates for their ship yards, but have been able to place but portion of the thousands of fore July 1, 1917. They paid 4c. on one contract and were not staggered ky 4.5c.
 A total of 5O,OO0 tons of new sub way and elevated work is soon to be placed in New York and bridges still figure prominently in Eastern let tings. In the West, however, there is more evidence that high prices are cutting down fabricating operations. In April the new work let amounted to 72.5 per cent. of full capacity, which is rated at 172,00O tons a month. Tn March the bookings were 102 per cent. of capacity, and the average for the first quarter was 82 per cent.
 ,,,,r o 1o11 o7t1 have shown some concern about their bar contracts for the first half of 1917, and the next few weeks are cX- rected to bring much of that business to the steel makers. Lately 2.33c., has been paid for agricul- tural bars, and some Eastern sales are reported at 2.25c Pittsburgh.
 Tin Plate Exhausted.
 The centering of the worlds tin rlate demand on the United States Is rapidly taking up capacity several large manufa cturers now having nothing to offer for this year. Large export sales have been made at $5.50 per base box, and one to the Orient !: s5.75, and the domestic market seems to be heading for $6. Specifi- Of the week on sheet and tin mill products have been unusual One autom obile builders contract for ,lue annealed sheets for the year be- yinning July i call for 250,00 tons.
 Foundry pig-iron buying is uni- ormerly light, and the week has been me of the quietest of the year, With | pot buying absent and producers naming lower prices for 1917 than 1 CT the last half of this year, con- | tuners are more disposed to let the 1 market drift. At St. Louis 15,000 | ons of basic is under negotiation. l lith the prospect that, though higher ,l phosphorus, Southern iron at s15, l with $40 freight, will e taken in preference to Chicago ron at $2O5O, delivered. Southern have been quoted at $1450 nd less and furnace iron has sold arther ahead at $15 than was re- ently the case