New Britain herald., 1917-03-15
Steel and Pig
 Iron Markets
The Iron Age says:


 in the iron and steel trade. Pig iron since January has been advancing in price by jumps and they have been frequently from two to three times the usual amounts. The advance in steel halt in the middle of last year, but the biggest increments have been made in the last few weeks.
 If export demand may be seized on as substantially the main reason be- sides governments needs for the later price increases, 1t is not yet certain that foreign buying will be checked. Large offerings in some forms of fin- ished steel have been made at the new prices. Domestic purchasing meanwhile has not by comparison been of large order, with some sea- sonal exceptions, but tho advances have now had the effect of driving in many consumers for mill protection at prices below the now levels.
 Thus far 1t is not clear that tho pressure on the producers will be re- lieved. Certain it is that operating and sales departments are resisting vigorously condition in which their hands are tied by commitments many months in the future.
 The volume of forward buying in pig iron is particularly significant. in View df the prices involved. Whether thes situation reflects the opinion of the consumer with regard toN--the length of the war or the effect of the participation of the United States in 1t must be left to conjecture. Recent sales of basic iron have left Q cOmparatively limited supply for further 1917 needs. A steel casting company in the St. Louis district bought 10000 tons: another steel company bought 10000 tons; some 40, 900 tons was sold to an eastern steel company at $33.80, delivered, and up-, ward of 10000 tons is, under inquiry for the east. A lot of 5000 tons was closed at $2 above last weeks mini-- mum. Foundry irons are generally $1 to g higher than a week ago. A Virginia interest after selling 10000 tons at $31 for the first half of 1918 disposed of upward of 5000 tons for the same delivery at $32. For this year Virginia and Pennsylvania irons are now held at $36 and sales of southern foundry iron have been put through at $8O.' Birmingham. for the last half. Bessemer iron commands $1 to $2 above last weeks prices for the last half.
 The. advances in. bars, shapes and plates by the steel corporation. fors- casted last week, came sooner than expected and for much greater amounts. They may be taken in bart as responsible for local sales which in a few cases have been the heaviest since December. It is an index of the strength of things to note that con- tract buying has been entered into in wire and wrought pipe at the new prices made in the preceding week. It is now predicted that in q few days an advance of s to $10 a ton will be made in bolts and nuts and a corresponding change will be made in railroad spikes.
 Shipbuilding is still the big factor. On the Atlantic coast 24.OO0 tons of steel ship material has been sold in the last few days for the last half of 1918 and the first quarter of 1919. and on the Pacific coast 30,000 tons. It is getting to be the practice to put ship shapes on a basis with ship plates and on some of this business for bet ter than these deliveries 5c has been the figure. Eastern plate mills have put 0Q luSAT QOVlAIlOu AuOtn0T notch, bringing ship plates to 7.6oc per lb. and ordinary tank quality to 6c. It is estimated that fully 100000 tons of steel for shipbuilding purposes has been offered 1t present prices The Cunard line has covered for between 40, and 50 ships. Atlantic yards are being searched for space for eight more boats.
 Some 35.000 tons of rails have been taken by the mills These include 10.000-ton lot for Alaska, 5000 each for the Reading and the vgirinian and 5000 for the Duluth, South Shore & Atlantic For frog and switch work 10000 tons have been bought. Two roads have cov- cred for 25,000 tons of tie-plates.
 The recent contracting of the agri- implement manufacturer, 1t Is learned, was for their maximum re- quirements.