New Britain herald., 1918-11-02
Steel and Pig
 Iron Markets
The Iron Age says:

The rapid advance day by day Tn peace moves has put readjustment questions before all else in the iron and steel and metal working trades. This is true, even though the steel industry to all appearances is going ahead as though the war were to con- tinue indefinitely.
 While every war agency at Wash tngton is driving it's plans to the ut most, the expectation of an early peace Is reflected in some moves af- fecting steel. The conflicting cur rents are naturally confusing but since all initiative is from Washing ton the problems of producers and consumers are of the future rather than the present.
 Munitions contracts were first thought of as most sensitive to the approach of peace, but instead the Shipping Boards action has been the barometer. The steps taken as to shipbuilding in the past week mark the passing of this part of the war program from the wasteful stage. in which haste was the first and last word toward a basis of econ on1ic production The most efficient yards will be pushed to the utmost, but high priced operations will not long continue. Some plans for shipyard extensions have been given up; but meanwhile the output of ships will increase.
 Plate mills are at last relieved from part of the 5O0o0-ton weekly demand of the shipyards, in view of the tonnage now banked up ahead. At the same time, the mills objected to the indefiniteness of the cancella- ton proViso the Emergency Fleet Corporation was inserting in new plate contracts and it has been changed so as 10 take care of all product ready for shipment at time of cancellation and reimburse the mlll for any loss on raw material. Sentiment in the steel trade as to coming changes runs all the way from an expectation of depression on the making of peace to 8 prediction l that the need in the transition will be not for Government help in price 1 maintenance but in holding prlcesS l down.
 One effect of peace discussions is l the hedging of contracts with new 1 conditions. In one case 15,0OO tons 1 of Bessemer pig iron was bought for ! the first half of 1919 with the proVlso l that if no Government price exists at the time of delivery the present max ! imum shall apply. Pig iron produc- 1 CTS are less willing to sell ahead as l peace comes nearer. They see a ] scarcity of metal for months to come. l 4 Virginia producer has brought out the temper of the market by sell ] ing 25,0O0 tons of foundry pig iron ] for delivery In the first half of 1913. l It was quickly taken Up and thou l sands of tons more could have been | sold Such was the eagerness- or [ foundrymen to buy. The contracts 1 protected the seller against deliver ies under Q Government price below l his cost.
 l Production in October. both of pig
 iron and finished steel in spite of in 1 fuenza losses, has exceeded that ot l September and better fuel supply tends to still better records. In lead ! ing Pittsburgh mills forces were re- duced 12 per cent. by the epidemic 1 last week against 10 per cent. ana {
 per cent. in the two preceding weeks.
 The machine tool trade reports
 some cancellations, but nothing large,
 though the probability of an increas-
 ing number is recognized. Produc- l
 selling anything cancelled
 At Washington the machinery for 1 applying the full steel output to es- i sentiat work has come ta it's best in l this week of intense peace talk. New 1 men having just been added and new
 methods adopted to secure smoother
 working of priorities.
 i Cleveland reports dissatisfaction ] with the new bar iron prices, the
 Central West finding refined iron
 basis of Sc less workable, as against 1 29Oc steel bars, than it has been III
 the East. The scarcity of unfinished steel 1 is hampering rolling mills in several
 lines. Manufacturers of strip steel i contemplate an appeal to Washington 1 for billets to keep them running. Lne l sheet bar shortage is stlu markeu' l One sheet mill closed down TOT ldc,f. 1 of steel is to be utilized as Snel' l plant. ooo
 New car awards include 10000
 four-vbeel gondolas to the American
 Car & Foundry Co. for the ltailan Government, The 40,915 cars for the
 American operations in France nave 1 haen distributed this week to IT diff 1 ferent builders.
 The manganese ore market IS yield
 ing under the expectation of lower 1 shipping rates from Brazil on the
 coming of peace. and Brazilian ore ! has been offered at $1.15. Domestic ] producers who have opened up prop critics reckoning on a continuance of
 war prices, are not little concerned ] at the prospect.
 Limitation of Claims