New Britain herald., 1917-06-07

Steel and Pig
 Iron Markets
Tho Iron Age says:

II
 Tho Iron Age says:
 P1ttsburgh has Mgnalxed the ar rival of $50 pig iron by ono of the most exciting weeks in the BossemeT iron market since the beginning of the war. Sales have amounted to 76,- 900 tonA of which ono stsel company took 40,Q00 tons at prices ranging from $46 to $50. At the latter figure at least 20. tons. has been sold.
 Not only pig iron. but se1ni-nnished and finished steel mArkets. have been affected by the. developments at Pitts- burgh. since they confirm what has been well-considersd opinion in the trade for some weeks, that futureswar advances were likely to como as abruptly as any that have come in the past two years, and might 60 to lengths even now thought impossible
 Tho weeks advance in Bessemer iron has been $S. and that in basic iron $3. or to $46. Considerable trans- actions in basic are pending, includ- ing one lot of 20, 900 tons, and sellers indicate that $4s is likely to be paid for some of this iron.
 Taken in connection with the fu- rore in the melting steel scrap mar kets. from Pittsburgh to St. Louis, in the past two weeks, the sensational Pittsburgh movement plainly reflects as insistent a demand for. all steel making materials as was seen when semi-nnished and finished steel were $50 ton lower.
 All steel scrap markets, including those of the, East which have been strangely backward, have been stirred up by the activity of various steel companies. and the possibility of a limited Lake ore supply. with higher plE iron prices in consAQuence, has contributed to advances In all forms of old material. At Pittsburgh one steel company has taken 10000 tons of heavy melting scrap and over 25.- 900 tons of borings. Low phosphorus scrap has sold up from }45 to $51 at Pittsburgh, and heavy melting steel at $36 and higher.
 While foundry iron has not been active. it's upward movement contin- ues. At Chicago local iron has ad- vanced to $47. and some makers who have been selling for 1918 at y2 to 8 less than for this year now ask SAT for either delivery, Coke. in line with all raw materials. is $1 higher this week. selling at $1o at ovens.
 Other advances include $5 on sheet bars. $3 on cast iron pipe, $s a ton on refined iron bars, and $6 on rail- road spikes. Practically all weeks bring some advance in plates and mill prices vary widely. At Pittsburgh 7c. to Sc. represents the range on tank plates and sc. to 17c. on ship plates.
 The whole sitaution in steel prod ucts turns on the plans being worked out at Washington. from which plate. structural and sheet mills in par ticular are constantly getting orders. Of the steel needed for the 7.6O0. 900 S-in. shells the government ts buying. a Central Western company win work about half of the 60,0O0 tons into shell forgings.. Some questions n to the governments specifications for shell steel are yet to be settled.
 One important interest in the Pitts burgh district is now furnishing enough plates on government account for the building of three s.000-ton vessels week and when another plate mill is finished in the coming fall it will be able to roll sufficient plates for one 3,000-ton boat . day.
 The governments $so, ,o00 pro- gram of navy yard extensions. and other work including hangars. gun shops, submarine bases, etc., has been pouring in heavy reqlisitions on steel mills. machine tool builders and many other concerns in the metal-working trades.
 The question of labor supply is Siv- ing no little oonce1n. At Chicago tho exodus of men to farm work Is severe ly felt. Steel mills. and machine shops, blast furnaces and coke opera tions will need government co-opera- tion In their efforts to maintain forces now that conscription is factor.
 There are indications that steel for cars and locomotives must have pref erenee after government and ally needs for shells and ships. if the railroads are to succeed with the war transportation problem.
 Pig iron production in May was B. 417.340 tons, or 11o,23s tons day. against s.334.960 tons in April or 111.1e5 tons a day. Coke troubles cut down output in several districts. and yet more furnaces are getting in blast. The net gain in May was four, making $40 on the active list, the largest number in many years. The daily capacity of active furnaces on Juno was III, ,704 tons against Ill., 55z tons on May 1.