New Britain herald., 1918-11-14
Steel and Pig
 Iron Markets
The Iron Age says:


 problems of readjustment of prices and uses of steel greater than any With which if has ever dealt For the hrSf time in it's history it enters on transition period with Government agencies in practical control of pro- ducton and distribution Washington has already announced the martial or entire removal of the restrictions on certain lines of steel consun,n+ion following the actual or the scheduled cancellation of large quantities of "WAr steel
 Shell steel and harhed wire con tracts have been first to feel the mak ing or peace Other hundreds of thousands of tons of the former will be cancelled and the mills should soon be almost entirely through with that product. Some shell steel in the hands of the forgers may have to be diverted to other uses, if that Is DOS Sble
 On the invitation of the War In dustries Board the general steel com mittee of the American Iron and Steel Institute Is in Washington today to confer on the steps to be taken in getting the industry from practically 100 per cent. war basis to a regime in which ordinary peace-time needs will figure largely.
 The question of prices is having serious consideration. That they will come down is generally expected, and there is strong sentiment in the in- duStry for continuance of conference relations between the War Industries Board and tho manufacturers, Whether gradual reductions will sti- mulate buying is q question, but as there is no disposition either to buy or to sell on a large scale, that issue is not pressing.
 Official Wilmington, 1t is known, has not been friendly to the present level of maintained prices, but they were consented to because it was imperative to bring every ton of productive capa- city into action. If they are cut materially. certain hjgh-cost plants might be forced out of operation and their labor thrown idle just as thou sands of men are being released from war service. On the other hand, in tegrated producers could stand con siderably lower prices. Under present conditions the labor readiustment Is
 
 tion of product has proceeded some distance.
 A call from many quarters has gone to Washington for the fixing of minimum prices for the period of transition. but is is pointed out that no legal machinery exists to enforce such stabilizing.
 The fact that the country is bare of merchant stocks. while those of manufacturers are also in many cases at low point will aid in the start from new price level. Tn 1907, when the steel trade co-operated through the Gary dinners, warehouses and manufacturers floors were loaded with every form of finished iron and steel bought at top prices.
 In some lines buyers have already appeared. Stocks of rivets screws, nuts and bolts and kindred supplies need replenishment and manufac- turers in such lines have willingly paid current prices to get material long denied them under the priority regime.
 The wire trade has seen some buy ing of this sort. Now that the need of diverting their ingots and hillets to munitions uses is past, wire mills will ho in position to supply their ordinary trade, very considerable vacancies on order books being caused by barbed wire cancellations.
 The cancellation of orders dating back many months is question with 3 number of mills. Some of these are around 2c. for bars. for example, and the mills cannot get out whole on present costs. There are also sc. plate which buyers would like to cancel. So far a S these latter contracts were for export, some mills are dis posed to insist on their carrying out.
 The promise from Washington that displaced Ia ahor of munitions plants will be put to work on ships is dis counted by the known shortage of housing for shipyard workers In other respects also Washington as surances are very indefinite and can not be otherwise.
 That accumulated export orders would quickly replace war work at the steel mills has been the belief all along, and there is a good sized ton mage waiting, but much of it is bus- ness on which the mills could not 1 turn around quickly Japan is ex- pected to be promptly in the market.
 Ii is interesting in this connection to know that London has already re- ceived inquiries from Belgium for steel products Our London cable also tells of the forming of a new associa- ton of British iron and steel manu- facturers to deal with prices, com bined selling and after-war legislation the industry.
 Pig iron scarcity has been more marked. than the scarcity of steel and that relative condition Is likely to continue, new steel capacity having been added at a much greater rate than new blast furnace capacity A corresponding difference in price read iustmen would be natural.
 The machine tool trade is much exercised over efforts of buyers to cancel orders place without conditions In some cases discontinuance of Gov