New Britain herald., 1917-01-13
Steel and Pig
 Iron Markets

Iron Markets
 The Iron Age says:-
 A great alertness is evident for signs of transition to a different con- dition in iron and steel. Consumers of finished steel, apart from plates and rails, hold off, finding little in the events to help them decide about purchases for the second half and such deliveries are as a rule the earli- est large producers can give them.
 Reports of cancellations of British shell contracts in this country and their transfer to Canada are mislead- ing Canadian works all along have been given all of this business they could handle. Little new steel ca pacity has been provided there. though the Ministry of Munitions Is making every effort to increase out put. While more American machin- cry has been bought to increase Cana dian munitions output, the need for steel from this side is practically the same.
 The failure of the Allies to exer- else some options with munitions works in this country for the second half of this year does not change the steel works situation. It is known that one or two steel companies have been urged to take on more shell steel for delivery after July l.. In the Chicago district 10000 tons of rounds has just been placed for France.
 Some steel producers are making more effect than others to get busi-
 -i> %i1,;<~ r, rr{xy a significance in some quarters quite at variance with. the rigid holding of high-level prices and the tightness of mill deliveries.
 The Steel Corporations increase in thrilled orders was 488,744 tons in December, indicating both the cutting down of production and the limiting of mill shipments, on the one hand, and on the other a considerably larger proportionate booking of new business panies. The showing argues strong ly for the continued maintenance of heavy mill operations.
 Operating conditions are loosening in the Pittsburgh and Valley districts The Steel Corporation started five of its banked blast furnaces last week
  the problem of coke supply and prices in the next three months is still for midable Blast furnace c0npanies that refused to pay $4 two months ago for 1917 coke are now contracting at $7, and SC appears to be minimum on first half contracts.
 Foreign buyers who have looked for some relaxing of prices under peace IT, ing difficulties with ocean freights and the asking of as high as $55 a ton to French and Italian ports have not changed the attitude of the mills. Yet it was demonstrated one year ago that freights can go high enough to cut down even what is called impera- tive buying.
 Foreign and domestic buyers are in close competition for the plate out put. At Pittsburgh 15,ooO tons of plates was sold for export in the sec ond half at 4c at mill. At Chicago a 2,50O-ton order from the Orient for early shipment brought close to 6.5Oc, Chicago. Pittsburgh mills have be- fore them a 60, 0,00O-ton inquiry for de- livery to a Western shipyard through the entire year. Plate prices, at least, are still decidedly on the up grade.
 Railroad buying, like that for ship yards, shows export business compet- ing with domestic for mill space. Spain is in the market for 5000 tons of rails, Denmark for 10000 tons, and the Dutch East Indies for 5000 tons. Deliveries in 1918 would be taken on most of this. At home, 3O,000 tons of rails was bought in the past week, and one inquiry for 10000 tons is pending at Chicago.
 The Southern Pacific has closed for 94,O00 kegs of spikes the largest or der on record, and at the highest con- tract price-also for 19,O0O kegs of bolts.
 While high prices check general building projects, industrial expan- sion goes on regardless of peace talk Bids have been asked on 7,7OO tons for the Westinghouse Electric plant at Essington, and 1,5OO tons has been let for part of the new Worth steel plant on the Delaware River, with 5000 tons yet to be bought. Besides 15,- 500 tons of New York subway work, on which bids have just gone in, 20,- 900 tons will come up next month for Philadelphia subways.
 In pig-iron prices the tendency is upward, and some fresh demand has developed after lull. Foreign buy ing, from indications, will still be large. For France and Italy, lots of 7,500, 5000 and 5000 tons of Besse-