New Britain herald., 1916-12-08
Steel and Pig
 Iron Markets

l 1t have given way to quieter mar l ket. There have been good sales in l December but the rise of northern
 iron to $50 at eastern and central wes- ] tern furnaces has had a sobering eff l feet on many buyers. Even in 'the face of predictions of higher pig-iron,
 some foundry buyers wait to know what the demand for castings will be on the new level of cost
 1 In the steel market the weeks de- velopments point more strongly to sustained high prices. and the inabil- l ity of some mills to meet the demands upon them both in domestic and for eign trade Is more marked. 1 November pig-iron production, as 1 was expected, did not measure up to the remarkable rate of October. The l total was 3.311.S11 tons, or 110,394 | tons a day. against 3,50SS49 tons in l the 31 days of October, or 1131S9 tons a day. However. no other month
 of the year equaled the November l rate, in spite of coke and car trou- bles.
 It is evident that no early relief of l the pig-iron stringency is to come from increased output. Several fur naces have blown out after long and ] hard campaigns and others will fol- l low. On December 1, 322 furnaces wore in blast with capacity of 1O8, ,121 l tons a day. against 325 furnaces No- vembef 1, producing at the rate of 1O9,0 ,022 tons \ day.
 Another 3O.OOO-ton sale of Besse- mer iron for export and inquiry for 30,000 tons more from the same source indicate a large European de- l mand still unsatisf1ed. At Buffalo up- wards of 0,000 tons of basic was sold to Canada at S30 at furnace and east ern sales of over 10000 tons were made at S30. In the central west 5000 tons of basic for the first half of 1917 sold at the same figure. At Pitts burgh basic and Bessemer irons have been less active
 The southern pig-iron situation is mixed, with an increasing disinclina tion to sell. Little iron can be had for the first half, and while some produc- CTS are holding aloof. sales of No. foundry have been made at from $22 to $25, Birmingham, for various de- liveries in 1917. Tn northern Ohio southern iron has been offered at $2 to S5 under the new $50 to S31 basis esta ablished by local furnaces.
 By far the larger part of current
 
 second half of next year. Buyers of castings, who ordinarily place con- tracts in December for six months or a year, are concerned over the pig iron level and see a falling demand for their own products at cOrrespOnd- ing prices. In steel such fears have not been realized.
 Rail buying for 1918 is becoming general. Sales in the Chicago district have taken up most of the local rail mill capacity fo the first half of that year. The St. Paul, the Illinois Gen. tral and the Santa Fe have closed in the past week for about 150,OoO tons, of which 18OOO tons will be rolled at Ensley and 3O,OOO tons at Pueblo. The St, Louis Southwestern has bought 13,O0O tons and the D. l.. x w. 10000 tons Both the Erie and the New Ha- ven have made some reservations for 1918. Probably 100000 tons in all has been placed for that delivery.
 Locomotive orders have been crowding upon works of late. In Mo- vember the mum Der placed was 586, of which 60 per cent. was for ex- port. Russia has given contracts for about 300, but the large Russian car orders wait. To Dec. 1 nearly 4,o00 locomotives had been booked this year, against 1912 for all of 1915.
 American plate mills are looked to to take the brunt of the worlds ship yard work A Scandinavian inquiry is for a total of 72,000 tons on a tyr. sliding sale contract. An order just booked is for 12,00O tons for Nor wegian vessels building at. Vancouver. Foreign business is constantly offered for delivery next year, and mills are asking Sc. and Sc. new Tacoma shipyard is in the market.
 New advances in finished products come with each week. Iron bars are up S5 ton and some Central Vest ern mills are withdrawing from the market in view of the high price of scrap Another advance of $4 has been made in black and galvanized steel and iron pipe, and spikes are 25c. a keg higher. The leading tin plate producer has fixed it's price for 1917 delivery before July 1 at $65O, which is soc. above the original contract basis, but independent mak- CTS have gone to $7.
 The production of ferromanganese and spiegeleisen in Novem Der was by far the highest on record at 44,975 tons. The increasing competition in the domestic market is also indicated by a late sale of ferromanganese at $155, delivered In Ohio.
 It has been estimated that four steel companies having contra cts from the Allies will enter the new year with about 3,OOO,O0O tons of am intuition steel on their books. Near ly two-thirds of this Is for delivery in the first six months.