New Britain herald., 1916-01-06
GOOD OUTLOOK FOR
 STEEL TRADE IN 1916
Never So Large a Volume Of Firm Orders on Books as at Present
Especial to the HeraldD

Especial to the Herad)
 New York, Jan. 6, 1916--The Iron Age says today:
 No year has held out such promise at it's beginning as the American steel trade finds in looking forward into 1916. Never has so large 8 volume of firm or4ers, as distin- guished from cancellable contracts, been on the books of the steel mills, and never since the Steel Corpora ton was formed have prices on fu- ture delivery business been at so high 8 level.
 Generally new orders in December were less than in November and the Steel Corporations statement of next week is likely to show something less than the prodgious increase of Mo- vem Der.
 Greater Additions.
 The annual canvass of new steal ca pacity under construction shows far greater additions under way r. 1916 than any estimates the trade has en- tertained. Independent steel com- panies are building or have plans for seventy-three new open-hearth fur naces with an annual capacity Of 2,715.0 900 tons of ingots, while the Steel Corporation has made appro- priatiOns for 8 new furnaces Gnclud- ing four large ones for duplexing), representing 1850, 1000 tons a year.
 Here is the amazing total of 4,265, 900 tons of capacity coming forward an amount fairly raising the dues- tion whether war prosperity may not lead to the overdoing of new con- struction.
 Important Factor.
 Today only ten blast furnaces are under construction, representing l. 750o0 tons a year, and little of this capacity will be ready in 1916. This unbalanced situation, with it's effect on pig-iron and scrap prices, steel companies come into the market to feed their large melting capacity is factor of which more will be heard.
 Pig-iron output in December made a further gain, in spite of expected holiday slackening. the output being 3.2O3,322 tons, or 1O3,333 tons day, as compared with 3,037,30S tons in November. or 1 1O1. PA tons day. Pro- duction on Jan. 1 was at 105, 400 tons a day for 295 furnaces, as against 103.03 tons a day for 2S7 furnaces at the beginning of December.
 Increased Output
 The country is now making pig iron at the rate of 3s.sO0,0 900 tons a year. including charcoal iron. At the opening of 1915, with 147 furna- ces in blast. or half the number now running. the active capacity repre- scented only about 1S.000,000 tons. One of the results of the year is thus an increased output per unit in opera ton.
 Bessemer pig iron has advanced at Pittsburgh the entire available sup ply apparently being in the hands of two producers A sale of $500 tons for first quarter delivery was made at s21, Valley furnace. repre- senting an advance of s1.5o a ton. French buyer has offered $22 at fur mace for 5000 tons or more of Bes- semer iron for prompt shipment.
 French Advances.
 Southern foundry iron has sold at S15 to s15.50 for the first half and the tendency is upward. There are indications in other markets also of further advances in foundry iron.
 Advances of the first week of the year include $2 a ton on merchant pipe and line pipe.
 Plates Feature of Market.
 Plates are still the feature of the market in their spectacular rise, 2.25c to 2.50c., Pittsburgh, being prompt prices.
 Eastern mills have advanced bar iron to 2c. Pittsburgh, basis, total of $6 in a month.
 Our estimate of the pig-iron pro- duction of last year is 29,95o,O0O gross tons which puts the record of 1915, with all the handicap of six poor months at the beginning, second only to the 30.9660 900 tons of 1913.
 1CAIN