New Britain herald., 1917-05-03

Steel and Pig
 Iron Markets
Tho Iron Age says:

The Iron Age says:
 At the meeting of the steel manu- lecturers on April 2e to arrange for experiencing government. orders for war purposes 1t came out that 6lO,- 900 tons of plates, shapes and bars would be required for schedules al- ready made up. while in all forms of steel the years requirements are put at 1.100.0Q0 tons. At the 2.20c price
 for plates and $500 for shapes and bars some of the smaller manufac-
 turers, buying raw material at mar
 ket prices, could scarcely come out even.
 The steel trade has noted with great interest the intimations from informed
 sources that the government in it's
 next purchases of copper win pay substantially the market price, in- stead Of. exacting the sweeping con- sessions recently made. The decision is highly significant. Wages based on sliding scale agreements are involved, as is also the prosperity of industries, which 1t Is proposed to tax heavily for war purposes.
 That plans arc plainly shaping ur
  per, spelter and all other metals by Entente, Allies> in combination Is the outstanding fact in the situation to- day. That will mean that the indus tries involved will not be and must not be sacrificed and that the govern ment. in putting itself alongside its allies, will be willing to pay prices which will maintain and not disturb the present condition of it's leading industries.
 While little can be said on this matter at present, it's bearing on steel market conditions in the remainder of the war is highly important, the chief factor of uncertainty in the past month having. been the effect of the concessions the Entente Allies were likely to ask on their future steel purchases.
 Prices of pig iron. semi-flnished steel and of several forms of finished steel have advanced in the past week. While the shipping problem has grown more serious resales of material tn- tended for export, for which vessel room could not be found. have been in nearly all cases at higher than original prices.
 Consumers of steel, finding that in- mediate government needs were hav- ing . marked effect on mill schedules, have been bidding against order books already too we'll filled. Plates have sold at 6.50c up to 7.25c, Pittsburgh, for tank quality and at Sc for ship quality Shapes for export have brought 4.76c and angles of bar mill size, 4.60c.
 Advances of s to $1o per ton have been made on black and galvanized sheets There have been sales of light rails at $5 ton higher than recent prices. The scarcity of reroll- ing rails is more marked.
 Independent makers of black and gaivSnized pipe. 6ofh iron and steel. have announced Q six-point reduction in discounts, representing $12 per ton advance. The leading interest has not followed as yet, but has done so on similar advances heretofore.
 Inquiries for shell rounds for the government have appeared, but whether the government or the mu- milton maker will be the buyer is un- certain. One lot wanted is 1000 tons of 1-2 and inch bars.
 Railroad car prospects have dwin- dled until less than 500 cars are under consideration. The foreign ins auiries recently made much of arc still in abeyance.
 The returns of pig-iron production in April, compiled in record time. show a total of 3,334,960 tons. or 111.166 tons a day, against 3.251,S52 tons in March, or 104,S tons a. day. Only October. 1916, with 113.189 tons aday, showed a higher rate of output than April, improved coke supply having at last made an impression on furnace operation. The present rate of production is close to 40,bOO,- 900 tons a year, including charcoal iron. On May 1, 336 furnaces with a daily capacity of 111,552 tons were in blast, against 331 furnaces with a capacity of 107.766 tons day on April 1.
 The ferromanganese situation, Tn view of the falling off in British H. censes for shipment to this country. Is already 8 subject of international at Washington. In some 1 recent efforts to limit shipments to makers of munitions steel 1t IS ap' parently overlooked that other forms of steel .as for ships. are equally needed for carrying on the war. Prices range from: s400 to $500 per ton.
 Pig-iron buying for 1918 continues or7 8 good scale and apparently more iron for this year Is also needed than had been reckoned. Japan seeks 1O,- poo to 30,000 tons of basic for the last quarter. An Indiana steel com pany has bought 10000 tons of basic It Cleveland. and two inquiries or 10. 900 tons each are pending in Ohio. Ressemer iron has sold at $43 at Val lev furnace, an advance of $1 in the week.
 Foundry iron advances range from s1 to s2 a ton, all markets showing a tendency to higher prices on early and in this forward deliveries share. Southern No. 2 iron at $S5.