New Britain herald., 1917-05-24
Steel and Pig
 Iron Markets

Iron Marke
 The Iron Age says today.
 With deliveries and mill conditions
 growing worse. capacity sold up to an
 extent prscluding normal interest in
 new business. and with littl6 certain
 ty as to government needs except that
 they will steadily increase, the steel
 trade moves on in an unsatisfactory
 way.
 The. letting of contracts by the
 shipping board for . number of steel
 vessels has been followed promptly by inquiries for plates and shapes, and
 it is evidently the plan to have such steel provided directly by tho govern ment. Thus far the steel corporation has taken the brunt of the govern ment's plate demands, and independ- ent plate mills have been little inter- fered with in supplying their regular trade. This condition, from present indications, will not last long. and plate producers who buy their raw materials view with concern tho ris- ing prices of pig iron and scrap. The governments 2.90c price on plates ds below cost for some mills, though the pig iron now going into their steel was bought $1O to SIS . ton below today's market.
 Progress is being made on the plans for united buying of steel and other metals by the government and the Allies. In negotiating for 24.OOO tons of wire rope, . portion of which goes to France, the government has had the cooperation of wire mills, 50 that wire will be furnished the rope man. ufacturers as needed. As to prices on all further purchases of steel products. tho government policy is not defnitely developed. A copper price of 24c to 25c, as now indicated. points to fairer prices for steel than those now paid for plates and shapes.
 Foreign inquiries for steel aTo still large, and have been for weeks. but few orders come from them. since tho mills do not care to make deals which later government requirements will upset Large tin-plate sales could be made. offers running as high as SIP per box, but there is doubt If shipments out of the country w1l long be permitted.
 Russia's car requirements, which have been talked of for over a year. are given a better standing by the Eovernnaent's loan to Y Rupsia- Car builders now expect tho order will be for 10000 to 30.000 cars of 40.OOO-lb. capacity. Domestic cars have been placed in Canada. New locomotive contracts total 500 and the two lead ing builders are we'll booked Tor months ahead.
 One order Europe seeks to place is for 5000 tons of small angles. Italy would take tin plates in large qua ntities There is revived interest in a 25.000-ton rail inquiry from Great Britain. one for 10000 tons from Sweden, and tho 30O.000 tons Russia will need can be booked by any mill willing to take 1t.
 That the scarcity in steel bars is more disturbing appears from urgent inauiries in the past week for spot shipment. Agricultural implement buyers have had no results as yet from their appeal to the government for preferential treatment at the hands of the mills.
 Advances in semi- finished materials show no indication of the end. A sale of 2,00O tons of open-hearth sheet bars has been made at $Sb by Cleveland mill for delivery In the Pittsburgh district. More than 60.- 900 tons of billets for shell making have been up for bids, but the order has not been given.
 Railroad spikes and track bolts have advanced again and the demand for the latter is unusually heavy.
 The Carnegie Steel company and other makers of. cotton ties announce g. 10 per bundle of 46 lb. as the price for this season. Last years contract basis was $1.35. Tho $40 price Is In | effect through June and on July the carrying charge of 1c per bundle per month goes into effect. It is esti- mated that the years cotton crop will require 2.e0o.000 bundles.
 Rasic pig iron has figured in both l eastern and central western markets In the past week. A sale of 16,000 l tons to an eastern Pennsylvania steel company for this year established an advance in that district to SAP, de- livered. A Massillon, Ohio. steel company has taken 10000 tons Tor the first half of next year. Sales or 2 800 tons of Bessemer iron have been | made at $45, Valley furnace. Foun- dry pig iron Is $1 ton higher at Chicago. For southern foundry iron $40, Birmingham, for prompt No. 2 and $36 to $38 for first quarter Of 1918 represent the weeks market.
 An eastern steel company has closed for 10000 tons of coke per month for the second half of this year at $S at oven. and there are for 10000 to 15,000 tons per month additional. With deliv- f pries still much restrict9A end labor supply not likely to iInprove. coke producers are in fair w1y to crary their contention for g contract price close to that which has ruled on spot