New Britain herald., 1919-11-21
PIG IRON AND
 STEEL MARKETS
The Iron Age says:

Iron and steel markets are still many buyers that for some months the difficulty of getting full supplies will be greater rather than less. Pig iron, which differs from steel prod ucts in that producers are making no effort to hold prices down, has made further advances of $2 for steel mak- ing grades and $1 to $2 for foundry grades. Large sales have been made, chiefly for first and second quarters of. 19GO, and much moro iron could have been sold. Several producers withdrew from the market with in uuires before them representing tens of thousands of tOnS
 Ten to twelve blast furnaces have resumed, including four at Johnstown, Pa, and three at Youngstown, Ohio, and there have been corresponding assumptions by connected steel works. Thus supply is increasing, but there is even greater pressure by con- sumers of steel to get mills to enter their orders for the first half of next year. In some cases this is done, leaving prices to be fixed later; but most producers are not willing to make contracts until present uncer- tainties as to fuel supply and costs arc cleared up.
 Some symptoms of runaway market in pig iron have appeared, but as the main pressure is for early delivery and the supply of such iron is not large, the scramble has been limited. In next years iron there is not vet the general buying nor the general willingness to sell that com- bine to produce a broad movement.
 Estimates that tho railroads will buy 1000, GOO tons of rails when they arc turned back are considered con- servative in view of tentative ln- uuiries by the Pennsylvania and New York Central lines. Tn the Chicago district pending inquiry amounts to 25O,OOO tons. The Algoma mill has an order for S0.000 tons for the Canadian Pacific. lin view of the car and motive power scarcity that IS al- ready menacing winter distribution Of fuel and steel, figures for next years needs exceeding 100000 for cars and 5000 for locomotives are not conSid- cred excessive.
 Recent export sales have included 10000 boxes of tin plate at SS and several thousand tons of rails, on which the price was higher than the domestic level of SAT for open-hearth. There are European inquiries for up- ward of 30,000 tons of sem1-tnlShed steel, but carly deliveries are wanted and few mills could make pel'er promise than March.
 The shortage of sheets is more marked. Automobile manufacturers in particular have been bidding Ep prices. as high as $30 premium haV- inp been offered One Detroit build CT has been compelled for lack of sheets to cut output from 5000 to 1,600 cars per day
 October business in fabricated steel amounted to about 139, 500 tons, com parinu with a monthly average in the third quarter of 13S,600 tons and in the first half of 1919 of 54,00O tons.
 Bar iron makers have advanced prices $2 per ton in the Pittsburgh district Some Eastern mills have made an advance of $5 the second of that amount in 30 days, not yet fol- lowed the nut and bolt advasce of a few weeks ago.
 The demand for line pipe is un- usually heavy and mills have turned away no small tonnage lately. A tentative inquiry represents 1,400 miles of S-inch pipe; another calls for 500 miles and a third for 300 to 4c0 miles The mills are filled up on lap weld pipe for months ahead.
 A contract for 10000 tons per month of standard furnace coke for the first half of 1920 has been closed at $5.75 per ton at oven.