New Britain herald., 1917-08-17
Steel and Pig
 Iron Markets


 1 creasing and the export movement is
 large in spite of embargoes; but or l dinary domestic business in iron and steel is insignificant. Pressed by some of it's Allies to get for them much | needed steel, the government is hur- rying it's cost-f1inding inquiry, but as telegrams for iron ore costs only went out this week the investigators are some distance from the end Without taking final position on the question of selling to the Allies al the same prices as to the govern ment, steel manufacturers have ac- cepted orders from officials at Wash ington this week applying on 10000 tons of annealed wire and 10000 tons of wire rods for Italy. prices to be fixed after the trade commissions findings are made up. When these Italian inquiries first appeared some weeks ago, '4.50c was quoted on the wire and $85 on the rods.
 While the general question Is in abeyance, it is understood that some steel interests have expressed will ingness to take business from tho government at prices to be deter mined later, even though the mater ial Is for an ally.
 For the American army in France a 20,0O0-ton inquiry for 25-lb. rails has come out, for use in portable tracks. Unlike the recent contracts for 15O,000 tons of S0-lb. sections no price is fixed, but bids are asked. Con- trary to reports, none of the 80-lb. rails were refused by the mills, but on two of the lots concerning which a question was raised as to price, or ders to go ahead with the rolling have not yet been given, though all these rails are wanted in six weeks.
 While specifications on the govern ment's requirements for it's standar- dized merchant ships will not come to the steel mills until early in 1918, plates are being placed each week for government vessels that are being constructed after builders plans. h. dependent steel companies are now getting considerable orders for such steel in view of the large tonnages already taken by the steel corpora tion. The latter, it is estimated, has on it's books nearly '8O0.000 tons of steel for the navy, for government merchant ships and for private yards.
 Of the 17,0O0 cars wanted for the American railroad in France 5000 have been placed in the past week, and thus far about (o,O Kegs or spikes have been ordered.
 What is generally known as to the effect of present high prices on con-, struction is definitely indicated in the report of July bookings representing 41.5 per cent of the country's fabri- cated steel capacity. This is the smallest total reported since Febru- ary, 1915. &
 The outcome of efforts to secure ex- emptions for workers in iron and steel and metal-working plants have been to employers. It Is of vastly more consequence to the gov- ernment than cost finding that there be adequate working forces at coke ovens, blast furnaces and steel works. One Eastern steel company has been seriously effected by the large drafts made upon It's working forces. Only I special Intervention from Washington, even to the extent of new legislation, seems likely to avert an acute situa- tion
 Shore coke supply in particular is ! the entire industry. With | pig iron production in the first half 1 of the year 35O,0OO tons less than in the first half of 1916, and $50, 900 tons less than the second half, only an un usual use of scrap has made increased steel works output possible.
 The supply of steel in the form of billets, sheet bars and slabs is in- in the open market and prices are yielding. A sale of 2,000 tons of open-hearth. billets and one of 1000 tons are reported from Pittsburgh at i, $85, or $5 less than the prompt mar 1et of one week ago.. Italy is inQuiring for 5000 tons of rerolling billets.
 Tn finished material the weeks of inactivity have brought no apprecia- ole price changes Some increase in he supply of plates has been expect ed from the export mbargo, but neither deliveries nor prices appear to De easier.
 An easier pig iron market has re- suited from the inaction of the past month, but the condition is not one of positive weakness. With stocks lbout half those of one year ago and n view of the inability of furnaces to get Sufficient coke. producers are standing on their well-f1lled order books and as yet are not conceding hat Government revision of coke to a B or $4 basis will mean any consider able reduction in pig iron. Some are being made by fur laces which have not been long in ,laSt