New Britain herald., 1920-02-12
PRODUCTION HALTS;
 DEMAND INCREASES
Fuel Labor and Cars Short,
 Steel Goes Higher
The Iron Age says:

1 The obstacles to production have 1 been heightened in the week. Numer- 1 ous railroad embargoes have beer ] piled on top of the car and fuel scar l city and the continued labor shorta SC l The threatening railroad strike is not calculated to dampen the eagerness 1 of buyers not yet covered.
 The result is that few producers are operating at a better rate than so per cent. of ingot capacity. With out some betterment in car move ments, activity will be curtailed not alone among pig iron melters, som Q of whom are even now running in- termittently, but among merchant piS iron furnaces.
 Meanwhile, insistent buying pres sure for both pig iron and steel aus ments the strength of prices. Tn csc
 are almost anything. Whereas two
 or three weeks ago it appeared that
 finished steel was temporarily remain
 ing at the level of the first weeks uf
 1919, so far as the bulk of sales for
 second quarter delivery was con-
 cerned. now a definite level has dis
 appeared and business is done at $J.
 $10 and over $25 ton above the
 fixed prices of the war period.
 An important feature of most of the
 business entered by the independent
 steel makers is that it is of a definite
 nature as entrusted with contracts
 which do not become actual orders
 until specifications are forthcoming.
 Thus the steel trade may be rega rdcd
 as in strong position to withstand
 Any onslaught of pessimiSm.
 Contrary to the general impression.
 the violent adverse changes in eN-
 change looked upon to check exports
 to Europe are. of no great concern to iron and steel exporters. Their book
 ings represent four to five months oi the tonnage available for foreign shipments and are for countries ln connection with which exchange has not suffered a great variation froa I the normal Japan remains the con- spicuous seeker of steel.
 The independent steel makers. fol- lowing their practice of committing themselves not much over three m onths. have been taking business a about their current capacity, while the United States Steel corpora tion's statement of thrilled tonnage inGi- cates a booking rate fully 90 per cent. 1 a bove capa city. with orders now in volume to carry to De- cember.
 How secondary prices are is shown | in some of the weeks ansactions. 1 Sheet mills which have steel-makiuS 1 facilities in excess of rolling capacity ! have sold sheet bars at s5S to s65, against d minimum of $55 last wee@. Forging bil1ets are $75 per ton at VD;4 tural steel a fabricator paid 4c on 500 tons. Small orders for rails have been closed at s62 per ton. Cold fin ished steel bars have brought 4.50c.
 Following two weeks of heavy buy ing in the East, pig iron has been less l active In the Central West selling is and at Pittsburgh basic l has advanced s3 to s43, Valley. One . producer sold 19,000 tons at S43 and | is now asking s45. Foundry and mal- l lea ble grades in the Valleys have ad- 1 vanced fully $1 There is also active 1 inquiry for basic at Chicago and one | foundry is in the market for 15,0 0t0 ] tons. 1
 Over 25.o00 tons 9f structural steel ! work was placed in the East. incluG- 1 ing 15.000 tons awarded to the Me | Clintic- Marshall company for two |. garment factories in New York. Over 5000 tons was closed in Pittsburgh. 1 among the fabrica ted ! steel projects are the numb of steel ! plant extensions, including the 'Trun:- 1 bull Steel company. the National l Rolling Mill company, the Otis Steel 1 the La Sale Steel company 1 and the Interstate Iron and Steel l company.
 EIXer ercising war powers with one |! hand to get rails. the government has l sold with the other upward of 16. 900 !! tons of rails originally intended for | France. Against the $40 to $41 pe~ , ton realized. it is altogether likely they will find positions in American 1 roadbeds at some higher figure.
 Belgium has ordered l3. 400 railroa q l cars of British builders.