New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1917-08-30
Steel and Pig
Iron Markets
The Iron Age says TODAY:

Even with the Government an
nouncement of steel prices known to
| be close at hand the market has done
some further readjusting on it's own
account. Pittsburgh has been the
chlef scene of activity and the bust
ness done has been almost uniform
ly at the expense of prices
In semi finished steel, the high
peaks of two months ago, reached in
! early delivery transactions and
which were far above the levels of
contract steel, have been toppled
| over on very moderate business,
while in steel-making pig iron the
reductions amount to 50 on Bessem-
er and as much as 81 on basic.
Finished material markets have
shared little in the decline in Bessem-
er and basic iron and billets, chiefly
because buying was so limited, but
plates in particular are lower, SC,
Pittsburgh, being now common, rep
resenting decline of $40 per net ton.
The trade is much at sea as to the
extent to which the reimbursement will
go, and is not helped by conflicting
advlces from Washington as to
prices to Allied governments and the
public. In the absence of power to
enforce a uniform price for three
classes of buying, the Administration
is represented as turning to the Sem
ate bill for such control of iron and
steel as has been provided for food
and fuel Meanwhile sentiment
grows in favor of substantially uni
form prices to the Government, Allies
and the public provided there is the
anthracite type Of adjustment rather
than that in bituminous coal.
If the Government adopts the pro-
posal to pay higher prices for finished
steel to high-cost mills, pig iron may
escape regulation except that due to
the expected reduction in coke. No
action on coke has been taken,
though there are tentative estimates
of 81 price at ovens.
steel manufacturers are watching
closely the working out Of the export
embargo policy, especially as related
to British steel exports. With do
, nestle steel capacity increasing, the
mills want all the export busine less
that is consistent with proper care of
the Governments needs and are
averse to shipping war steel at low
prices to Great Britain while that
country is making highly profitable
export shipments of commercial
steel.
visory committees at Washington
still waits on the finding of the De-
partment of Justice and legislation
may be required to clear up this sit
ution. Meanwhile an important
conference between the general steel
committee and the War Industries
Board is held up.
Manufacturers Of steel and NUM-
tons have made efforts to release
large numbers of men from the draft
and some important plants will suf-
fer serious reduction in output If
these efforts are not successful. At
the same time it is known that very
large additions to the Government
demands upon the countrys steel ca
pacitv will come out as soon the
price-fixing problem is disposed of.
At an important meeting with TIN
plate manufacturers at Washington
on August "a the food administrator
presented figures indicating a short
age OF about 100000 boxes this
year and a greater shortage in 1918.
1t was decided to limit further the
sale Of tin plate to packers of non
perishable foods, also to cut down
sales to jobbers. The Government
is urging the sale Of tin plates to can
ners for a year ahead a practice the
makers long ago discontinued and
which they are averse to resuming.
A further manufacturers conference
Is to be held in Pittsburgh this week.