New Britain herald., 1919-05-01
IN THE STEEL and
Pig IRON MARKET
The Iron Age says:


business in several finished steel
INES has taken a start in the past
week, but it would be easy to exag
gerate the amount of it, the compari-
son being with several weeks in
which buyers simply looked on and
waited for Washington to show the
way. Producers see little indication
of good business in the next two
months and in some quarters no
considerable Improvement is expected
short of the fall months.
Further underwriting between the
industrial board and the railroad ad-
miriStration has ended in the 1atter's
acceptance Of the boards suggestion
that the railroad administration and
the steel producers committee con-
fer on prices for railroad material
The steel committee considered the
matter Tuesday, but its action was
not made public It is fair pre-
sumption that if the railroad admin
istration ASKS the steel committee to
meet It in conference at Washington
the steel men will go.
In the trade at large the feeling
is one of disappointment that the
country is not told in some decisive
way that the government has taken
it's hands off the steel business. Con-
corning railroad buying, the railroad
administration announces that it is
not delaying purchases to force down
steel prices, but is using a surplus of
material piled up during the war.
This confirms the belief of steel pro-
ducers that only moderate buying is
to be expected in any event.
The slight Improvement iii demand
has not meant immediately better
employment at mills. On the con-
trary, the scale Of operations is
somewhat less than in the preceding
week. In me Chicago district the
average is about 60 per cent, at
Pittsburgh and Youngstown As to SO
per cent and in eastern Pennsylvania
about 10 per cent. There is more
disposition 90 believe that the read
iustments in the industry will extend
to wages.
While fin1shed materials are gem
orally sold ut the prices announced on
March 20, there are more indications
of slight concessions in pig iron. The
furnace basis Of s26.75 for foundry
iron is not maintained in the South,
and there are variations here and
there in other districts.
\ new export freight rate OF 55c
per 100 pound on pig iron from Pitts
burgh to the Pacific Coast has been
made by the railroad administration.
The recent rate was 75c, but it is
still possible to ship to the Far East
by way Of Eastern ports at about So
per ton less than by Pittsburgh and
San Francisco. The new export rate
on finished material from Pittsburgh
to the Pacific Coast is 60c per 100
pound, a reduction of 25c.
Increased activity in structural steel
is indicated n awards of II, 600 tons
for two buildings in Chicago; of G.
900 tons for the Mare Island Navy
Yard; Of about $500 tons Of plates
and shapes Cor Mexico; of 1900 tons
for q Hartford office building and L.
500 tons 70 transportation lines in
philadelphia. Fabricators on some
Of this woril have been guaranteed
q reduction IN price should such oc-
cur prior to he shipment of the ma
teriai.
Japan is inquiring for 10000 tons
Franco orders have been placed for
200 tank and 800 fiat cars.
Pipe business has accumulated UNI
til on lap weld sizes the mills are
filed up for GO days or more. Sew
oral sizeablo pipe lines are now under
no~otiatior ard q volume Of inquiries
for oil tanks is expected.