New Britain herald., 1919-01-10
Steel and Pig.
 Iron Markets
The Iron Age says:

4 slight increase in the volume of business marks the first week of the new year. No significance can be at tached to the fact for there are no signs as yet of buying movement
 A few steel departm ents are oper- ating at 85 per cent. of capacity, but the general average is nearer 65 per cent. At that the present rate Of pro- duction is equivalent to 90 per cent. Of the capacity of four years ago.
 Consumer and producer are each settling down to a, contest to tire out the other. The one is convinced at present that prices will go lower. The other claims 1t would be disastrous if they did, unless wages are reduced. But labor readjustment except through the ong-drawn-out process or men bidding against one another IS not as yet considered. The ir1creas- ing needs must be shored up by the buying element of the market and an answering adherence to present price schedules will have to dominate the selling elem ent to maintain the deadlock
 ReVislons of steel contracts to pres ent levels have been made, even on material for specific projects, but gen. erally they represent concessions in return for greatly delayed deliveries last year and to joboers and fabri- cators for resale. Reductions of sheet contract prices on sales under the pre- sumably ironciad contracts peculiar to that trade weaken the chances of wide introduction of the recently approved form of the general iron and steel contract.
 In the pig iron market the tendency to reduce prices on undelivered ton mage is noted in some districts as in Cleveland, where one company is free ly revising contracts, but many large sellers have not yet decided to follow this policy except in rare cases and a compromise frequently adopted is to extend deliveries instead of granting cancellations or price revisions. Many foundries have little business on hand and are not confident as to prospects.
 Export business is developing slow ly, due to questions of price and also to the scarcity of ships and high freight rates. The United States Shipping board has begun to release ships for commercial trade. but it will be some months before the mum hcr will be sufficient. What is regarded as essential is some international pooling of shipping, so that ships leaving here may be assured of car goes on continuing voyages. Tn no other way is explained the making of ocean rates from United States ports two and three times those from Brit ish ports. condition which puts our exports at a decided disadvantage A reduction of 20 to 30 per cent in yes sel freight charges has certainly not stimulated an export movement.
 The pig iron production of 1918 was 38,'5 249 tons. The December out put was 3,433.617 tons, or 110,762 tons daily. and thus at an annual rate of 40,428,000 tons, but there were five months of last year in which & higher rate was maintained. The momentum of war effort is responsible in part for December, 1918, exceeded the ex- isting December record. that of 1915 by 7,429 tons a day. The severe win ter of 1917-19t8 cut down the years total. The Novem Der daily average make was 111,8O2 tons. The pig iron output of 1917 was 3S,1S5.981 tons. and of 1916, 9,039,356 tons.
 The rate of production on Janu- ary 1. however. was 109.675 tons per day against 111,330 tons on Decem- Der 1. In the IF onth il furnaces came in, but 21 went out and the number in blast on January 1 was $50. or ten less than on December 1.