New Britain herald., 1916-08-25
AMERICAN STEEL
 STILL IN DEMAND
Dra8net Letters Sent to Learn of
 Possible Deliveries

than steel has been the market leader of the week.
 The spectacular orders for shell and other war steel, with deliveries run hing six to ten months ahead, having been put on producers books, interest in the steel trade centerS on the bal ancing of supply and demand in the domestic market for the first half of 1917. Yet it is evident that the Allies want much more steel from the United States. Producers have been solicited again in the past week, in dTagnet letters, to say what rounds CT rounded billets they could furnish, With what deliveries and at what prices
 Many borders now on the books of leading steel companies for this years delivery must go over to 1917. Weeks of almost unbroken hot weather have aggravated an OversOld condition, and consumers have not yet felt the full effect of this exceptional curtail rnent.
 The recent increase in domestic buying for the first half of 1917 still leaves the total much short of what some steel makers had expected. But at present high prices consumers are cautious, in spite of warnings that they may overstay.
 Noteworthy in this connection IS the report of the agricultural imple- ment makers committee which has been working to get lower prices on steel bars. The committee did not succeed, and it tells the associated buyers that each must now decide for himself how he shall provide for his steel for next year.
 There are signs in the building trade that the high prices for steel have now fastened themselves in buyers
 minds as likely to last longer than was counted on only lately. Work IS to go forward, for example, on hotels
 at Washington and Baltimore, re- quiring about 5000 tons, and at St. Louis on a building calling for $500 tons The American Bridge Com pany and the contract for 10000 to 12,O00 tons for new Carnegie mill buildings in the Youngstown district.
 Car rebuilding is a factor, rather than new car orders, 25,OOO to 3O,- 900 tons of steel being wanted for the former The St. Paul is considering 5000 new cars, and the Pennsylvania railroad has ordered 11,O00 tons of plates and 4,000 tons of shapes for car building
 Pittsburgh reports a tendency to exa aggerate the shortage in semi finished steel Sheet and tin-p1ate works have been getting a satisfactory supply, and attention is called to the large amount of new steel capacity that has come into operation this year, with more to follow in the next co days. On the other hand, strikes in equipment plants have held up the completion of new rolling mill capac- ity.
 Black and galvanized sheets are weaker and the latter have sold at 4.15c under.
 Prices of plates and structural shapes are stiffening on early de- liveries and 4c, Pittsburgh, for sheared plates for this year is commonly done. Or shapes in Eastern districts 6O-day deliveries range from 2.60c to 2.95c Pittsburgh
 Chicago steel works are getting crders from unusual scOurces. An Ohio mill placed there a round ton- mage of ingots for this year, paying $40 at Chicago mill
 Pig iron buying has been on a large scale, particularly in steel-mak- ing grades A Youn gstown steel com pany bought 5000 tons of Bessemer and Is in the market for basic. At St. Louis three consumers took 5O,- coo tons of basic, 5000 tons going to Northern furnaces, in part on the basis of SIS at Chicago. Southern Ohio purchases of basic have been a i large factor in a total of 128 900 tons !! of pig iron through Cincinnati offices 1 since August 1. At Pittsburgh | steel foundry interest Is in the market l for 10000 tons of basic and an east i crn Pennsylvania steel works for 1S,- i 900 tons. Buffalo sales of foundry and 1 other irons were nearly 50,00O tons for the week, with as much still pending.
 Pig iron prices have been irregular. i As usual, there were low figures out Chicago prices were revised down. ward to meet Southern competition. | Southern Ohio iron sold at SIS, Iron ton, as against s1S.5O only recently. Tn eastern Pennsylvania s19, de- l1vered, for basic iron was done, but $19.5O is asked today. Some Buffalo sellers have advanced prices, also. 1 At Cleveland large sales have been made-7O 900 tons by one interest since August 1, against 5000 tons in all July.