New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1917-02-16
Steel and Pig
Iron Markets
The Iron Age saws:

Cold weather has added to the trials
of insufficient cars and y, LOGON olives
and, gagged roughly, rs per cent. Of
the producing capacity of the Central
West in pig iron and semi finished
steel Is idle. About 80 blast furnaces
of the Steel Corporation are banked
and more may, follow. The industry
cannot push out product against lines
of standing loaded cars nor can it
get steady inflow of materials if
empty cars do not reach sources of
supply.
In a word, the railroad situation is
all absorbing. 1t is developing q pro-
nounced spot market, particularly in
pig iron. Prices on most grades of
iron have been advanced, from soc
per ton in some markets and So on
foundry iron in Pittsburgh. where
there has been spread between
prompt and future of fully So. Basic
alone has not responded, domestic
sales bringing IL shading of $50 at
Valley furnace, but the general falling
off in production is regarded as a
check. Export purchases Of basic in
clude 10000 tons for Italy at s32 to
$500, seaboard, for April delivery,
and 5000 tons at S31, Valley furnace.
the uncertainties of deliveries and in
creasng activity in negotiations for
second-half buying is noted. The in
creased government naval program,
adding three more battleships, one
battle cruiser, Is destroyers and IS
submarines, makes a disturbance of
mill delivery schedules more likely.
Prices are naturally sensitive, and the
n ovt fyx-n rfoi1 y,oo ,,4
in output is calculated to hold, if not
to stiffen, present levels through the
second half and possibly through the
entire year
Some advances must be recorded
this week Black and galvanized iron
and steel pipe, including oil country
goods and line pipe. are now 81 per
ton higher, as forecasted last week.
On the withdrawal of the American
Sheet & Tin Plate Company for any
new business up to July I, prices
were advanced IS per ton by other
sheet makers on blue and box an
nealed sheets. Tin plate, for which
the demand is insatiab BILE, is moving
for soc more per box on current or
ders.
Ore shipments from Lake Erie
6S6,277 tons, which is 2O1,149 tons,
Or % II per cent, less than the ship
ments Of January, 1916. While the
reduced movement is attributable in
part to car shortage, stocks at fur
naces were larger at the close of the
navigation season than was the case a
year before. The stocks on the docks
on Feb. / were 9,11S,926 tons, which
ic
dock supply on Feb. 1, 1915 and it
ls expected that on April 1 there will
be more ore available at Lake Erie
ports than on the same date in 1916
Rails have now been sold for de-
livery in the fourth as we'll as the
third quarter in 1918, such sales for
Southwestern roads involving $4,000
tons. Some $4,000 tons for other
roads have also been closed for like
delivery.
Carbuilders and LOCOMOTIVES shops
have placed upward Of $4,000 tons in
bars, shapes and plates at Pittsburgh
for the last quarter of this year and
the first quarter of 1918, and 100000
tons is pending. The weeks largest
industrial plant expansion offering is
for the Studebaker automobile fac
tory. 1t may involve 10000 tons of
structural steel, though the initial in
quiry is for $500 tons.
France, as we'll as England, is now
seeking boats. Besides trying for
existing ships, negotiations are under
way to take over contracts for ships
under construction. 1t is believed
that six have already been bought
and new contracts have been placed.
contingent solely on securing the ma
terial. Three of the new ships are to
be built in San Francisco. For oil
tanks in Mexico some $500 tons in
plates.is wanted.
So far the governments purchases
outside of shapes for navy yard
building, cover only large shells. A
domestic shell maker has been sound
ing the market on 1000 tons of shell
steel billets for March and April