New Britain herald., 1917-06-28
Steel and Pig
 Iron Markets

The Iron Age says:
 The agitation of government con- trol of prices for iron and steel pr.;l- ucts and for coal and coke has added a new and serious element of uncer- tainty to the situation, and the per- plexities of buyers have increased as prices have made further advances.
 The possibility of disturbance to business by ill-considered price fixing is a repressing influence, and steel manufacturers who for some lime have refrained from selling because they were reserving their product for government use now have added req son for taking no new steps.
 So far as government ship steel is concerned, the question of author ity to decide on contract prices Is ap- proachings final determination at Washington, and on the outcome hang other questions of government policy regarding steel. If the coun- sels of practical men prevail. the steel manufacturers committee and the governments representatives will agree on basis approximating that on which current deliveries are being made on longtime contracts. These. as is well known. are quite below the AGv0lS TShCuSU HI tA0 SCEsAAAUtS AOE euO small amount of steel that Is onl, ding up prices.
 Buyers of pig iron and of finished steel have been much exercised over the proposals to fix maximum prices in transactions with private consum- CTS. While the undertaking Is viewed as impossible. there is unconcealed uneasiness over the possibility that the mills will be able to d1 less of their own initiative as new measures become effective.
 Government buying is steadily in- creasing. part of it coming through de- partments and committees which arr range with manufacturers as to prices and part of 1t in quasi commAndeer- ing orders, on which prices will be fixed later. For the army Ncanton- ments contracts were put through quickly. The wire nail purchases amounted to 42,0O0 kegs, of which half went to the leading producer. while the remainder was distributed among independents. The price was $3.20, whereas the market price of independent makers is $4. The cast iron pipe and radiation contracts for the cantonmer1ts are in abeyance. If steam heating is general 10000 tons of radiation will be required.
 Japanese buyers are pressing for ship plates, taking up every ton for which their bids are entertained. From 10000 to 50,000 tons of such inquiry is still pending. The condi- ton continues, that plate prices are made by the insistent offers of con- sumers. In one case 9.9Oc for 1000 tons for early shipment was declined and for delivery later in the year 9.75c was bid on 50O0~tons.
 Concerning the majority of rolled products the weeks developments have been ,unimportant. That tim plate supplies will be adequate to the canning demand is now considered more certain. The sheet shortage evil dently would have|been serious If the rate of automobile building had kept up. As it is, premiums of $10 to $20 are paid for prompt shipments. Bar iron output has suffered from the high prices of scrap and common iron in the middle west has gone to 5c, Pittburgh.
 At Chicago $5 advance has been made in light rails, bringing 225-45 lb. rails up to $65.
 Pig iron buying has continued, in spite of advances of $1. to $3. but the altitude is causing consumers to think seriously of the dangers of the decline when it comes. Some of the buying for 1918 has been plainly speculative and some thought is being given to the share pig iron would necessarily take in any scheme of control of steel