New Britain herald., 1917-01-18
Steel and Pig
Iron Markets
The Iron Age says today:


attention is given to possible effects
of the falling off in the export move
ment attributed both to the scarcity
of ocean bottoms and to the refusal
by railroads of steel and pig iron
destined for the .seaboard.
Apart from these transportation
difficulties, which are not likely to
diminish soon, is the question whether
| the steel exports of 1917 will equal
| those of 1916. Some predictions in
| the negative have already appeared.
An interesting development, show
ing the intense effort to increase Can
! adam output, is the contract just
| closed by the Imperial Munitions
| Commission for Canada for ten 8-ton
! Heroult electric furnaces for a plant
| to be built at Toronto for the COM
mission and to operate on the scrap
steel of munitions works. Several
| months will elapse before steel can
| be made, but the contract points to
! the indefinite continuance of the de-
| mand for war steel. These furnaces
might add 10000 tons year to Cana
da's steel supply.
AT the same time there are nego-
| tiations with domestic steel manufac-
Iul Will I11C USUAL uldliOuN LIS
over prices, for good sized tonnages
of shell steel forgings for the Allies.
| Third quarter delivery is wanted for
the most part and in some cases
| second half.
| Cars and rails still cut a large figure
| in export inquiry. Italy is negotiating
| for 1000 cars and Spain for 2,1OO
France has placed 5000 Of the 20
| ton cars of which her requirements
are many times more. Great Britain's
| coming into the market for car
| material has caused some stir.
Canadian railroads must come to
| this side for rails as the two mills
| there are filled up on steel for the war.
| For the Grand Trunk on both sides
| of the line $4,000 tons have come up
| at Chicago, where total inquiries are
| about 100000 tons, including $4,000
tons for. the government line in
| Alaska. Chile has bought 5000 tons
of rails and for the Anaconda's opera
ton in Peru 5000 tons has been
| placed. The Steel Corporations Bes-
semer & Lake Erie road has bought
| 5000 tons.
! The wire situation reflects the
cleaning up Of certain export con-
| tracts and the rather deliberate pace
| of financial arrangements on barb
| wire, particularly for Russia. The re-
| suit may be that wire capacity long
| devoted to exports may be available
! for domestic production Inc wire
market is thus one that will be close
| ly watched In December the specifi-
cations and new orders of the leading
producer made a total only once ex-
ceeded in a month.
1nn11irV FOR 1yra rods is urgent Can
adam mills seeking to contract for
$4,000 tons For high-carbon rods
$50 has been named. ~ Z
In the structural trade December
showed the largest bookings since
March, the Bridge Builders and
Structural society reporting that Sc
per cent. of months capacity of
bridge and structural shops was con-
tracted for. Among new projects are
a James River bridge, 10000 tons, for
the Atlantic Coast line, and a steel
and concrete bridge over the Allie
gheny river for the Pennsylvania rail-
road, requiring 5000 tons.
The pressure on plate mills in
creases. Eastern mills have before
them 10000 tons. Chinese as well
as Japanese shipyard inquiries are
now being pushed. At Pittsburgh
a contract for 10000 tons Of sheared
plates for the second half was put
through at $500, while &c has been
paid on second and third quarter de-
liveries and from sc to 65c on early
delivery business.
About 100000 boxes of tin plates
are wanted for export to the far east
in the first half. Several makers are
under contract for most of 1917.
In some directions pig-iron sellers
are making more effort to close sec
ond half business, but consumers like
those in steel lines, are not convinced
of the holding Of present prices into
the latter part Of the year. Export
sales include 0,000 tons of Bessemer
in the east and 5000 tons at Pitts
burgh. phosphorus iron has
sold in the east at $57, and the de-
mand is much greater than the sup
ply.
Annual contracts for mill cinder
and scale Just closed at Philadelphia
amount to 100000 tons. Prices for
cinder ranged from 81 to $3.50 or SOC
to 75c above last years. On scale at
Sc to $3.50, the advance was 81 and
upward.
AS predicted, the railroad situation
in the middle west grows no better;
of tons of finished material is held
up The Carnegie Steel company now
has seven blast furnaces banked,
| while nine others are out of blast.