Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-05
INCREASE IN STEEL
PRODUCTION SHOWN
Pig Iron Output Also Higher,
Says Weekly Trade
Review.
BY the Associated Press.

BY the Associated Press.
NEW YORK, March 5.--A gain Of 10
per cent in pig iron production in Feb
ruary and further slight increase In
ingot output during the past week are
reaSSuring factors in the iron and steel
INDUSTRY, Iron Age says in its weekly
review of the industry.
irregularities in the flow of orders.
always more noticeable in a period of
subnormal activity" the review SAYS.
Continue to obscure the trend of bust
ness, particularly for manufacturers of
a single product or a narrow range of
products Nevertheless, viewed as a
whole, the impressive feature of the
market is not the temporary setbacks
experienced by some producers or the
gains shown by others, but the sus-
tanned. though gradual, expansion In
the total consumption of metal.
Output Rises.
Raw steel output has risen at Cleve-
land, Chicago and in the Wheeling dis
trict and has receded in the valleys and
at Buffalo. The average for the coun-
try at large is estimated at SO per cent,
compared with 50 per cent a week ago.
Further gains in the general average
are looked for during the current
month, although no attempt is being
made to forecast the rate Of increase
or the proportion of the increment that
will be contributed by specific products.
With mill operations in close step
with consumption, backlogs have lost
much of their significance. 1t is en-
tireIy possible that the untitled ton
rage of the Steel Corporation and
other leading producers was reduced in
February, but the important considera-
tion from the standpoint of production
Is the flow OF shipping orders rather
than the piling up of contract obliga-
tons. Forward commitments, un6er
present conditions, are limited mainly
to the railroads and other larger con-
sumerS Rails and tin plate contract
ing was largely completed in January
and mill bookings since then have been
predominantly in smaller lots, almost
invariably for quick shipment. This
class OF business is becoming more fire.
quent, If not larger individually.
Large Tonnage Pending.
Miscellaneous buyers are not likely
to depart from this hand-to-mouth pol
icy until forced to do so by price con-
siderations or an extension of mill de-
liveries. The next wave of forward COM
mitments will probably come mainly
as the result of the placing of line pipe
and structural steel, large tonnages of
which are pending. and more liberal
contracting for automobile steels as
motor car output expands.
Pig iron production IN February was
1,706,621 tons, or 60,950 tons a day, COM
pared with 1,714,2S5 tons, of 55.299
tons. On daily oasis there was a 9 hin
of oo1 tons, or 10 per cent While
the IIptCrn bsgun in January vas con-
tinued, Output was tie smallest for any
February since 1922. Blast furnaces
operating on March ] numbered 108, as
against 102 on February l ano 95 on
January l.
Automobile production is respond
ing more rapidly 70 the rising Spring
demands anc present schedules ilGi-
cate a March production for tt 5 coun-
try arc Canada Of 2750 goo = 1000
cars. Makers of steel sheets, st, lbs and
bars are receiving increasingly generous
specifications from the motor car b. i'd
ers. 81 ipp:ng orders receive, by one
large sheet producer last week were
the best since october.
New Steel Projects.
Pipe line business looms la ger with
the appearance of substantial additions
TO the heavy tonnage now outs, andins "
New fabricated structural steel prof.
ects total in excess of 10000 tons this
week. Awards of about $1,000 tons are
slightly larger than a week age. wlSn
the Total was 5000 tons.
The Iron Age composite prices are
unchanged, that for finished steel being
2.l42 cents a pound, with pit ron It
SSH gross ton and heavy meltit
scrap at SLIT gross ton.