Evening star., 1932-02-11
STEEL OPERATIONS
CONTINUE SMALL
Ingot Production at 20 Per
Cent Of Capacity, Trade
Journal Says.
BY the Associated Press,

6y the hSSOCldlcO TIesb.
NEW YORK, February 11-Steel
operations this week show little change
from last week, with the current ingot
production rate at % per cent of ca
pacity, says the Iron Age in It's weekly
review of the steel trade.
The minor Improvement in steel buSi-
ness in January, which resulted in
gain in ingot output for that month of
1872 per cent over December, is not being
maintained" the review stated, there
having been q sharp decline in volume
of orders for some products, notably
those going to the automobile industry.
Expectations of an increase this
month rely largely on prospective rail-
road purchases, particularly rails.
Schedules Lower.
"A very definite factor in business
curtailment is the slowing down OF
schedules by motor car manufacturers
caused by tagging sales and the desire
to move slowly until Ferd's plans are
fully revealed.
"Curtailment is especially in evidence
among units Of General Motors, whose
January sales both to dealers and car
users were below those OF December,
going against the usual trend. 1t Is
now doubtful whether February output
of cars will equal that of January.
The entire picture Of steel industry
Is one Of inability to make progress
against conditions which restrict the
purchase Of material on almost every
hand In building there Is virtually no
private work, while lettings OF 1aprl-
Gated structural steel and reinforcing
bars for public projects are unfavorably
affected by State and municipal budget
Bookings Of fabricated structural
steel this week are only $3.50 tons, the
smallest for any week since the Iron
Age has been compiling this record, ana
new projects cali for only 1000 tons.
"A sharp drop has occurred in steel
releases by the farm implement indus
try, which probably will curtal manu-
featuring schedules.
Although railroads seem to offer the
best immediate prospect for increased
steel buying, they are moving slowly.
The only rail order Of size Is 10000
tons for Southern Pacific, but distribu-
ton of $1,000 tons by the Nickel Plate
may come soon..
Tin Plate Volume Small.
Tin Plate, which is counted upon
at this time Of year to aid mill sched-
ules, is not gaining IN volume Of orders
or operations, owing to uncertainty Of
some of large canmakers as to this
years prospects, and the tin plate mar
ket is disturbed by competition from
Welsh mills, which have sold several
lots in this country at about SO per
base box, or Sits under the domestic
officials price. Foreign competition is
also becoming more severe in other
steel products and in pig iron.
The Far Eastern situation has had
no important influence on steel mar
kets, though some japanese orders
have been placed in Europe and few
small orders for munitions steel of un-
disclosed origin have been distributed in
this country.
An important step toward rallying
weak price situation is being taken by
manufacturers of sheets and strips.
Announcements by few mills name
minimum prices from 81 to 81 a ton
above those recently in effect on sheets.
mo further downward revisions cf
importance on steel products have oc-
Cured during the week. but pig iron
has declined so cents a ton in the val
leys and at Pittsburgh and steel scrap
is lower in the Chicago district and in
Eastern Pennsylvania.