The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-12-05
STEEL MILLS STILL
FILLING WAR ORDERS.
Cancellations Affect Only Es-
Inmates Made for Future
Delivery.
PRICE FIXING TO END
Industries Board Will Decide
Matter at Joint Meeting
on December II.
PRICE FIXING TO END

Omen market conditions are awaited
10 bring the iron and steel industry back
TO a peace basis. and these conditions
according to the weekly review Of the
Iron Age, will be brought about as soon
Is the Industry is ready for IT. 1t is
considered likely that the abolition of
price fixing will come with the con-
clusion Of tho meeting between the rep
resentatives Of the steel industry and
the War Industries Board on December
II. The Iron Age says:
Another week OF buying to satisfy
long restrained wants finds the steel
trade still sceptical OF the ability OF such
demand TO cope with the situation soon
to be met The fact IL that with the
armistice more than three weeks old the
steel mills Of the country are still en-
ragged to a large extent on war work
Consultations of orders, which would not
have been reached by the mills for some
weeks or months. have naturally brought
no shock. and the real test is yet to
come.
Sentiment in favor OF continuing
Government control Of iron and steel
prices after December 81 has steadily
diminished. and the conference between
the steel manufacturers committee and
tho War Industries Board at Washing
ton December II promises to be the end
Of the chapter on price fixing. Prepara-
tory to the finale a general meeting Of
iron and steel manufacturers Is called
. for December In New York.
actual export business put through
Is not what would be expected from the
amount OF inquiry. British export prices
announced last week are from SIS to 500
Any, Hnta al 90. hao
products, so that the basis of current
export transactions in New York, while
higher than that fixed at Washington,
Is still below the European level. How
ever, real international competition is not
yet a factor British galvanized sheets
for export have sold at about $50 cents,
as against fixed price of 6.25 cents at
Pittsburg.
The run OF replenishing orders in
various lines keeps up, particularly in
bars More plates are available for the
general trade. and this supply promises
to increase, as shipyards now have an
accumulated supply that will last for
four to six months. Demand for struc-
tural steel 10 very light
sPlg iron production again fell Off in
November. being 3.354,074 tons. or ILL.,
500 tons a day. against 3,4S6,941 tons in
October. or 112,4S2 tons a day. Coke
shoftdSts, uuo 70 lHluSHZh, CAUSED sew
eral furnaces to bank last week. On
December the $50 furnaces In blast
had daily capacity Of H. tons.
against 113,500 tons for 366 furnaces
active one month previous"
The Iron Trade Repiep will say:
THE release of the iron and steel in
dustry from Federal price regulation
confidently Is expected to come on Janu-
airy 1. The removal of the control which
has now been In effect for fourteen
months is definitely understood to rest
in the hands of the industry itself. Dur
ing the past few days the conviction has
crystalized that the transformation of
the industry from an abnormal war to a
normal peace time basis can best be
effected by return to open market con-
ditions. The united sentiment OF the IN
dustry will be the test, at a meeting on
Monday at New York called by the steel
committee of the American Iron and
Steel Institute. Fears of what the period
OF transformation would bring 10 the
iron and steel industry are being gradu-
ally dissipated by market developments
The flood Of cancellations which many
producers had expected has not de-
veloped. although consumers generally
are filing increasing numbers of requests
for annulments of contracts. The adop-
ton OF definite policy in handling such
requests is being seriously considered by
producers. The only evidence OF united
opinion Is the strongly expressed deter
Infnation Of most sellers to hold buyers
TO their contracts. Production continues
at the accelerated stride developed under
the spur OF war demand Blast furnace
production is maintained at high level
the slight curtailment resulting from the
influenza epidemic.
The coke output last month was
1850 2S2 tons and the average daily rate
lll.s78 tons. Final ore shipments are
reaching lower lake ports, the tota,
movement FOR the year being slightly
over 100000 tons"