Evening star., 1931-12-17
STEEL PRODUCTION
DECLINES FURTHER
Some OF Smaller Plants Have
Been Closed Until
January.
BY the Associated Press.

BY the Associated Press.
! NEW YORK, December l7,-SteA
plant operations are more markedly
under the influence of inventory redtc.
lions, price weakness and delays in
tne new manufacturing programs Of
the automobile companies, says lion
Age, In its weekly survey.
Some Of the smaller steel works have
been shut down until the first week of
January, and year-end idleness among
general industrial companies is likely
70 De longer and more widespread than
usual, the survey adds. Steel orders
1or immediate shipment have declined
notlceaoly but some business Is being
placed for January.
Ingot Output.
mgot output for the entire country
Will average about 25 per cent of ca
paclty this week, against 261a per cent
last week and 80 per cent in November.
| Inc decline Is most marked in the
Plttsburgh district, which is now on a
70 per cent basis; in the valleys, which
! are not above 20 per cent, and in East
ern pennsylvania, where operations are
| even lower
Price Weakness affects both finished
! steel and pig iron. Concessions of 81 a
ton on hot rolled strip steel and 81 q
ton or more on hot rolled annealed
sheets and definite decline of 81
| ton on cold rolled strip imperil
the efforts which mills have been max
ing for some months toward a stabil-
lied price structure on fiat rolled
products
Foundry grades of pig iron have
! fN., -
delivery, so cents at Chicago and the
same amount in the valleys and al
Pittsburgh, bringing the Iron Age COM
posite price for pig iron down to Sl479,
the lowest level since October, 1915,
when the market was emerging from
the slump of the early war period.
December recession in business In
| dlcates that both pig iron and steel
ingot production will make new lows
this month. Two Woodward furnaces
in Alabama, together with ore and coal
mines and coke plant, have been
shut down, and the blast furnace at
Hamilton, Ohio, has been banked.
With the new year only two weeks
away the steel trade is awaiting for
leadership in the formulation of price
policies. Some announcements may be
made this week. Except for the auto
! mobile industry, little interest has been
shown by consumers in first quarter
contra cts, and most Of the motor car
manufacturers are still delaying final
arrangements for the bulk of their
tonnage
Contracts are expected this week
from the Chevrolet Chrysler and Buick
companies, but Ford's buying has been
repeatedly postponed, and shipments Of
some minor orders have been sus-
pended pending retooling.
Important Projects Few.
While the steel industry Is inclihed
to look for some improvement early in
| January, the dearth of important
p. ojects is Disappointing The building
field offers little encoura cement and
prospects Of railroad buying must re-
main indefinite until the pending wage
question is settled.
/ Fabricated structural steel awards
in the week were 16600 tons in addi-
ton to 7,4oo tons of sheet steel piling
fer docks construction in New York.
The Iron Age composite prices Tor
finished steel and scrap are unchanged
at zoos cents pound for the former
1888 ton for the latter"