New Britain herald., 1917-02-08
Steel and Pig
Iron Markets

| The Iron Age will say tomorrow:
It is too early to measure the effect
on the iron and steel trade of Ger
many's unrestricted submarine war
| fare. The railroads have been the
| clogging def1le in the path from mill
! to ship, and for a long time export
| ing has been embarrassed more by the
chaos in rail transportation than by
| the scarcity of vessele.
| The war buying by the United States
| government now at last become def
| mite after months of reservation by
| mills and ordnance makers. Pushing
warship material for early rollings
may tend to disturb other plate de-
| liveries, but shell steel demand is not
| likely to be heavy until we have some
thing with which to shoot it. Active
negotiations are now under way for
! big additions to our artillery equip
ment.
There are no signs that anything in
| the way of federal control of industry
| is likely, nor that makers are at all
concerned over any price concessions
| which may be eXacted. In fact they
are not mentioned. Everywhere the
attitude is one of serving the country
| thirst, with price a secondary matter.
! In spite Of the additions which the
home war-footing program makes to
mill business, the government as a
kconspicuous buyer appears for the
| present at least as a stabilizer, leav
( ing prices strong though with no gen.
eral further upward tendency.
Federal supervision of the railroads
would be welcomed An orderly move
ment of freight according to some
widely controlling plan is needed. With
| the government as q partner, railroad
| managers would probably be less har-
assed by restrictions which leave too
| little time for bare traffic problems. If
| possible, 'rail shipments are worse, al
though January was large month for
| shipments for leading interest in the
middle west. One leading coke pro-
Queer last week secured only 35 per
! cent. of the number of cars needed.
No cessation in foreign demand is
noted. Pig-iron inquiries include TO-,
600 tons from France, half Bessemer
and half foundry; 10000 tons from
Chile, and 5000 tons from Holland
India needs 1000 tons of castiron
pipe and Chile some $500 tons. Rus
STA would buy some 1900 miles Of
line pipe. Added to 100000 tons OF
SAANAi oeCSl OlIlClS, ldhSll ny Hills
which could space in the first half,
and part at " c at mills, may be
mentioned 100000 tons which France
would like this year. Another foreign
demand for ship plates comes from
six Spanish yards which would take.
if available, $4,000 ons over Is
months. A French inquiry is for
5000 tons.
Rall comm it m enfS have
the third quarter of 1918 and $1,000
tons have been closed for that deliv-
cry. No less than 10000 tons of
heavy rails and 10000 tons of medium
sections are wanted by France, and
England will take $4,000 tons, Italy
2,50O tons Of light rails and Cuba is
in the market
The production of pig iron in jan
uary fell off from that of December by
nearly $4,000 tons, which is hardly
much as might have been expected
with all the coke delivery troubles.
Our returns show a total of 3,45O-
93S tons, against 3,17S,643 tons, or
about 900 tons less than in December
This represents the lowest daily out
put since November, 1915. There
was one more furnace in blast on Feb.
l than one month ago, the total being
312, but the capacity is somewhat less.
being 101,S66 tons per day against a
rate Of 101, 975 tons daily on Jan. I
At that the going rate is now only AZ
per cent. below the average through
out 1916.
Advances Of soc to 81 per ton have
been made in foundry iron and of 81
per ton for charcoal iron. An Ohio
steel company wants $4,000 tons of
basic iron for prompt delivery For
a cast-iron pipe line Dorchester. N. Y.
may need 10000 tons.
One tangible evidence of the IN.
certainties Of the international situa-
ton is an advance in domestic ferro- |
manganese of $50 to SIS per tons. so !
that, $3.50 must now be paid for first
half purchases, with the British pro-
duct nominalls at s164 at seaboard.
The Bessemer ore situation looks
bad. If the foreign demand for Bes-
semer iron keeps up the ore shortage
may exceed 100000 tons, one esti-
mate indeed placing it at about s.
100000 tons. Some new properties. |
however, will ship in the Coming sea- !
son.
A large new sheet mill will be built |
in Ohio. A tire company at Cumber-
land, Nd, will take 1000 tons of |
structural steel and the Worth Steel !
company some $500 tons. In Phila- |
delphia 1900 tons of material have |
been bought for four ships. Follow |
ing advances in mill prices for for |
ward delivery, warehouses prices for |
steel bars, plates and shapes are up |
So per ton.
The Ford Motor company purchases |
have now been settled for the year be- !
ginning July / and amount to about !
100000 tons, covering sheets, bars, |
wire stock, forgings. etc