New Britain herald., 1917-07-05
Steel and Pig < Iron Markets

The Iron Age says: The uncer- talnty as to the governments atti- tude on prices of the leading materials or war has been only increased by the coal fiasco and other events of the past week. Producers and manufac- turing consumers of steel look for the early intervention of a deciding power, that will bring an end of the present chaos, but in the interval business apart from government wants Is largely at a standstill. The possi- b1llty of government intervention on large scale in steel, coal, metals and other important markets has vide spread repressing and unsettling in- f1uence.
 Meantime, new proofs of the larger place government needs are already taking are the fact that 25 to 30 per cent. of sheet mill capacity is thus occupied; that probably two-thirds of the users of cold-rolled strip steel are producing for the government; that the Carnegie Steel Go. alone is turning out material for the on ultimate buyer at the rate of. 6O,000 tons of plates and 15,O00 tons of steel bars per month.
 With all the confusion of wide spreads in prices and with fewer good-sized transactions to guide, def1- mite advances, some of them very large jumps, are again to be recorded. Pig iron Is generally $2 per ton higher; prompt furnace coke has sold at S16, or a rise of $3: leading makers of wrought iron pipe have raised their prices $10 to $16 per ton; light rails heve been adanced by $10 to $15 and railroad spikes and track bolts by $5 to $10, while some makers Of rivets and bolts have quoted 10 per cent. higher within the week.
 The distress caused by delayed de- liveries of materials is spreading, and more plants have been forced below a 50 per cent. operating schedule. Car builders are getting barely more than one-fourth the plates they need. Complaints of labor shortage are more frequent, and arrangements are being made to admit more women in light manufa curing jobs.
 Indicating the lengths it is neces- sary to go to make sure of material in the effort of a large electrical concern to close for first quarter for 5000 tons of basic iron. to be shipped to a steel mill for conversion into sheet bars, and finally into electrical sheets.
 A very considerable demand has appeared for electric steel. Three months ago there was a surplus of this product, and 1t was hold on open hearths specifications. Government activity in many directions has caused a sudden change, and now makers are four months behind on deliveries.
 The structural market is largely Government affair. For the new pro- jectile plant at Charleston, w. Va, to, ;c 1o1 ing fabricator has taken not far from 30,00O tons in various Government contracts. For extending it's open hearth plant at Youngstown, the Re- public Iron & Steel Co. has let 25OO tons of structural steel.
 The overhanging of Government control has been plainly a factor in the scrap market, which in Western districts has slumped $2 to $5 per ton. There were other influences at work also. The recent excited ad- vance was too rapid to stand all the consequences of short selling and of the necessity some dealers were un- der of having to buy two tons of ma terial in order to secure the delivery of one.
 The 10000 tons of foundry iron wanted promptly by the Government has not yet been distributed. dis tribution is also expected in the case of the 6O,O0O tons of Bessemer iron for Italy. Only lately, due to inn possible ocean freights, pig iron sent to the seaboard for export to Italy had to be resold and Shipped back to the Middle West.
 Bessemer iron has sold at $56 to s5S, with some makers asking $60 and basic sales were made at $52 to $54, with present quotations $55 and high er Two steel mills want 10000 tons each of basic for the first half of 1918. In spite of soaring prices and the specter of Government control, there is steady buying of foundry and steel el-making irons.
 surprising record in Lake Super for iron-ore shipments was made in June, and some of. the loss caused bv the late opening of navigation was wjped out. The total for the month was e.639,991 gross tons, gain of 132,415 tons over June, 1916. ship ments to July 1 were 16.135,135 tons a loss of 34S0,432 tons as compared with the same time last year.
 Coke troubles again limited pig-iron production in June. the total for the month falling to 3,270,055 tons, or 1O9,o02 tons a day, against 3,417,340 tons in May or, 11o.23s tons day. The output for the first half of 1917 at 19,069,s92 tons shows an unexpect- ed falling off from that of 19,41O,453 tons in the first half of 1916. Yet 349 furnaces were active July l, against S23 one year previous. The capacity active as July came in was ll2,l55 tons Q day, against 111,Io4 tons a day for $40 furnaces on June l.
 EXEMPTION BOARD BUSY
 The local exemption board, assist 1 .s 1.. I. .,,..,s- 1EneMriterS. is h1l sily 1