New Britain herald., 1919-09-04
PIG IRON AND
 STEEL MARKETS
The Iron Age Says


 out of the way, the iron and steel trade is now beginning to devote it self closely to the likely commercial deVelopm ments of the next few months. Multiplied bits of evidence have fnl1v proved that the sentiment among the wage earners is heavily against a test or unlon strength, and so far as wage advances are concerned there Is widening circle of thinking work CTS who realize the impossibility of reducing living costs with continual wage advances and at the same time lltue consideration to increasing unit PfouuctlOn. The more cheerful out LOOK comes largely from the presi- dents proposal for a conference of employers of labor and labor officials, Whatever may be the disposition of the putting the whole question of wages upon another footfng"
 Aususts steel output will closely equal that of July but shipments could have been greater but for car shortage. The future, with the com ing grain movement, does not hold much promise in this particular. Bookings generally exceeded capacity and it is getting more difficult to place business with the mills.
 In lines where the pressure is greatest, such as sheets, the lack of skilled help is a limiting factor in produ ton, and higher prices could easily be obtained. The resistance to any marking up of the major items in Seel products is still strong, but steel bars, q minimum but difficult to obtain at 2.35c, Pittsburgh basis. have been sold by at least two mills at 2.4Oc, 2.45c and 2.50c and 26Oc is now the button price with another mill
 Forward buying is thus suffering some curtailment because of the price uncertainty, for indications are that order books may easily be filled later and no extended commitments at to- days levels are necessary.
 Augusts production of pig iron, o. 743,3SS tons, was. as much greater than that of July, 2,42S,54 tons, as July exceeded June. The daily out put in August was S8, 49O tons against 78,340 tons in July. The blowing in of furnaces kept up through the month, 266 being in blast on Sept. 1 as against 239 on Aug. 1.
 The rate of pig iron production on Sept. 1 was. 93,3G0 tons per day, or at yearly rate of about 34,500,OOO tons. The 1918 output was 39,4OO,0OO tons. The daily rate a month ago was S5, 635 tons.
 The pig iron market is strong. The tendency toward higher prices, es- pecially in eastern Pennsylvania and the Cleveland district where advances of soc to $1 have been made, is pro- nounCed despite a very conservative policy, especially as to sales for de- livery into next year. Evidence of increasing foundry melting adds to the strength of the market.
 A climax to the receding ferroman- ganese market comes in the filing of a complaint with the Federal Trade Commission against British producers of ferromanganese and their Ameri- can agents. Leading American pro- duCerS charge that the British are dumping their product in this coun- try at prices lower than the cost of production in an attempt to destroy the new American industry. The day following the filing of the complaint. but probably before the fact was
 
 ing price from $100 to $95, c. i. f. Atlantic Seaboard.
 Further railroad car requirem ments have taken tangible form! The Penn sylvania railroad is asking for 2,0O0 to 4,000 tons of plates, 500 to 1000 tons of shapes and 1000 to 2,0Oo tons | of bars for car repairs. Among re- cent export orders are two for steel | carwheels. 4,400 from Spain and 2,400 ! from Japan.
 The navy department Is asking for | bids by Sept. 9 on 4,200 tons of plates 1 and 1,500 tons of shapes for a naval l tender to be built at Philadelphia 1 navy yard. Plate bookings have been better but price concessions still ob- l tain on large orders.
 l Though tool steel is generally quot ed at $1.50 per pound, some makers l have sold to large consumers at $1.35.