New Britain herald., 1918-12-19
Steel and Pig
Iron Markets
The Iron Age says:

A&S 11oh age SAY
An open market for steel products
mas come in the past week, various
! forms of finished steel having sold at
from 81 to Sc ton below the govern
ment maximum prices established for
the fourth quarter of the year This
scale of reductions was provided for
IL the price schedule which the gen
efal committee of steel manufacturers
took to Washington December II for
It's maj conference with the commit
tee OF the war industries board
The new prices We're not announc-
ed at the conference, as the govern
ment representatives had decided
beforehand that no discussion OF
prices would take place. They were
given out after the meeting, how
ever, and on the day following a
youngstown company offered to sell
No. rs black sheets at 4.70c,, galvan-
lied sheets at 6.05c., plates at &C., and
standard black pipe at 4.20c, repre-
senting reductions of Sc, 81, SIS and
Sc per net ton respectively. The same
lower prices were named by several
other producers.
The reduction in steel bars is 81, or
to 2.70c., while common iron bars
WJAC1 nave DSen , IL d. TON nlS09r
than steel are as yet unchanged. Blue
annealed sheets are reduced 81 per
net ton, shapes IS, and light rails S..
Tin plates are s7.95 per box, a reduc-
ton Of 40c.
Billets are reduced 81. or to s4s.5o,
While sheet bars are SAT, as against
$51. Standard Bessemer rails are put
at $50, but no price was announced for
open-hearth rails Some sales of
spikes have been made at $40 per
key, q reduction of 20c. Wire rods
and wire products are left IN
changed.
A reduction of So per ton In pig
iron, or to $40 for basic and s31 for
No. 2 foundry, was included in the
schedule the steel manufa cturers took
to Washington. Most merchant pig
iron companies have held thus far TO
the government prices. In the Cleve-
land district one producer has sold at
the So reduction. In Alabama both
the higher and the lower price are
quoted, and this is true in markets
tributary to Cincinnati.
Among pig iron producers, those
who have chafed under the fixing of
pig iron prices by steel makers, now
feel that as the demand for their pro-
finished steel, they will be able to get
the old prices. On the other hand,
many foundries are we'll stocked with
iron, But southern furnaces have de-
clined to take on $4,000 tons of basis,
iron for England and Japan is inquir-
ing for 10000 tons,
The revision of prices on undeliv-
cred portions Of contracts-the old is
sue of falling markets. up again
with the mills. Some government eff
forts in this direction are causing pro-
test, and the question has an unusual
aspect in the case OF ship plates for
yards whose contracts with the gov
eminent are on the cost plus basis.
The decision of the steel manufac-
turers' committee to disband on De-
cember Fl is in line with the dissolu-
ton of the war industries board and
signifies the giving over of the mar
ket to the free play Of competitive
factors.
It is to be said that the reduced
amount of new business. In the east
a 6,000-ton plate contract was put
at Sc, the new figure, though
some producers quoted the govern
ment price. Now that the market is
open, the possibility of further reduc-
tons is distinctly a factor.
Mill operations are Stacking up in
some directions and labor supply IS
increasing. Long needed repairs to
blast furnaces and steel plants Will
take up some of the surplus. The
Steel corporations active capacity
rating for the week was 95.2 per cent |
in pig iron and 97.9 per cent. i'm steel |
ingots against 94.2 per cent. and
96.5 per cent. in the previous week.
Novem Der records show structural |
activity at low point for the year. the !
lowest also in four years, the business
taken representing but 81 per cent of |
the capacity of the fabricating shops |
The British readjustment i'll iron |
and steel Is complicated by uneasy 10
Dor, much higher prices on export |
than on domestic orders, and the ter |
mination with January of government |
subsidies of q to IS per ton of steel.
American rolling mill machinery is
wanted both for English and French |
steel works extensions. British and
Indian railroads have bought $4,000 |
cars.
The offering of shell steel as scrap
has begun aad vast amounts are to |
come upon the market. Canadian
negotiations on a basis equivalent 20 I
s25, Pittsburgh, for heavy melting
steel indicate the decline thus far.