The Washington times., 1921-09-25
BRITISH Steel
NEEDSFELT IN
UNITED STATES

WIN NoSoVoty " vNS'S SseS'
Trade We Should Supply
Much Of English Demand
One OF the questions uppermost In
the minds of steel men during tho
current depression il whether the
United States can regain her foreign
markets. which consumed such .
great amount of iron and steel during
the war period.
With recovery in the world
steel trade and some activity in Brit
ish mills, this country Ia again apt to
feel the demand for pig iron and semi
finished steel from England. accord
Ing to the Bureau Of Foreign and
Domestic Commerce.
The United Kingdom for . long
time has ranked among the largest
importers of iron and steel, as well
as being the second greatest exporter
Of steel products. Prior to the war,
when British steel exports were In
excess Of 100000 tons a year, i'm
ports OF iron and steel were close to
1000. 900 tons, and In this trade the
United States always had a valuable
share. Recently the relative impor-
lance Of British imports of steel. as
compared with exports, has been
somewhat greater than formerly. 80
that the actual tonnage Of iron and
steel imported to Britain in the twelve
months ended June, 1891, totaling
close to 1,4o0. 900 tons. probably has
equalsd. II Il has not exceeded, i'm
ports by any other country during
the same period.
Britain's Chief Imports.
British imports always have includ-
ed variety Of products. but the chief
items generally have been pig iron,
billets. and other semi-finished steel,
which before the war about equaled
in amount the exports Of pig iron.
Thus, for the three years 1911-1913
exports Of pig iron, plus q very small
amount OF billets, averaged ! 200 900
tons q year, but were nearly offset
by average yearly imports of about
10000 tons of pig iron and semi.
finished steel.
By far the larger part Of this move
ment was Of pig iron and semi.finished
steel, between Britain and European
countries. imports Of pig iron and
semi-finished steel being drawn mainly
from Belgium. Germany, France, and
Sweden: while exports of pig iron.
somewhat more widely distributed,
neverthe iess found their main markets
on the Continent.
Wartime needs and conditions al
tered somewhat the relations Of the
different parts Of the British steel in
dustry, mainly with the result that
capacity to turn out rolled products
was increased more than capacity to
make ingots or pig iron.
According to common estimates, the
total pig iron capacity Of the United
Kingdom IL now about 100000 tons
q year: ingot capacity Ia estimated to
capacity to make rolled products Is
put as high as $4,000 900 tons.
! Allowing for a reasonable amount
OF latitude in these estimates II still
In evident that full ingot output can
not be based on the domestic supply
OF pig iron; nor would local ingot out
put keep the rolling mills running at
full capacity.
These gaps can be bridged only by
extensive use of scrap to supplement
pig iron and semi-finished steel on a
larger scale than, formerly. in order
to reach capacity production all
around.
Imports Take Slump.
It Is this condition which has raised
the question, in some quarters, whether
the British market for pig iron and
billets will again reach large enough
proportions to revive the demand for
considerable supplies from the United
States. Such q question leads only
to pure speculation at the present
time, because SO far this year the
total imports Of pig iron and semi
finished steel into the United King
dom have been about 80 per cent below
the pre-war rate, and the volume Of
- y,A e.
that market has dwindled to q very
small fraction Of what II was last year.
June showed q total OF only 1000 tons,
and July none At all, AZ compared with
an average Of $1,000 tons q month
last year shipped from the United
States to British steel markers.
Whether this trade can be revived
to such an extent as to make II an i'm
portant factor in United States ex-
ports Of steel will depend largely on
the price at which the goods can be
laid down In British ports In competi-
ton with nearby Continental producers
ability Of Continental producers to fill
British needs for pig iron and billets.
Before the war the United States was
able to sell annually 100000 to 200,o
tons Of raw and semi-finished products
in the British market.
Prices are now somewhat more
against the American product than
they were then, but price differences
are gradually being narrowed rs
among the chief competitors. Further.
more, with the changes which the
war left imposed on Continental iron
and steel production, It Is not yet clear
that there will be a basis for Contin-
entail producers to Thonopolize, at any
price level, the likely British demand
for raw and semi-finished products.