Evening star., 1933-04-22
STEEL PRODUCTION
ADVANCES SHARPLY
Step-up in Production Marks
Fourth Consecutive
Weekly Gain.
Hy the Associated Press.

NEW YORK, April 22.-Steel ingot
production this week has risen to % per
cent Of the country's capacity from 1912
per cent last week, and may be further
increased within few days by the
starting up Of the Carnegie Steel Co.'S
rail mill on q recent order from the
Erie Railroad, says the Iron Age. The
present rate is not only the fourth con-
secutive weekly increase, but 1t is the
highest in about year and is above
the monthly average for any month
since March, 1882. as computed by the
American Iron and Steel Institute.
The chairman Of the United States
Steel Corporation on Monday an
nounced a .21 per cent rate for the cor
poration's subsidiaries. Some of the
smaller companies with narrower
range Of products are working at con-
siderably higher rates. Outstanding are
at 100 per cent Of ingot capacity. and a
Northern Ohio sheet producer, which is
running at SO per cent. Automobile
orders are responsible for these high
operations, some motor car plants hav-
ing expanded their schedules to such an
extent as to work overtime.
ptVSCIuCut ucuCE6I.
Almost every district except the At
lantic Seaboard has shown marked i'm
provement within the past week. The
Pittsburgh district is now at 18 per cent,
the Chicago district about % per cent,
Cleveland Is at 35 per cent. Youngs-
town and adjacent Ohio districts at %
per cent and the wheeling district at
40 per cent. There have also been gains
at Birmingham and Buffalo. Aggregate
orders received by some steel companies
thus far in April are considerably in ex-
cess Of their entire March bookings.
accompanying the further gain In
production Is Strengthening of prices
Of raw materials. with advances in scrap
In nearly all important districts aver
aging about so cents a ton, which
brings the Iron Age heavy melting steel
composite up to $7.67 gross ton, the
highest since early October and slightly
above the average for 1882. Pig iron
prices are f1rmer in the principal pro-
ouclng districts, with an outright ad-
vance OF 81 to 81 ton on Southern
IRON, depending upon the destination
This rise was preceded by more wide
spread covering by meters than has
been in evidence at any time in three
years.
The makers of galvanized sheets
have announced an advance of 50 a ton
TO 2.7O cents pound. Pittsburgh, and
2,S0 cents, Chicago, effective at once,
though 1t may be some weeks before the
new price Is tested because of contract
coverage at 260 cents, Pittsburgh, for
this quarter. On the other hand, the
price of steel plates at Pittsburgh has
declined 81 ton but this is a belated
recognition of marked weakness that
has existed for several months in the
Eastern section of the country. The
reduction in the Pittsburgh quotation
brings the Iron Age finished steel COM
low the average Of March, 1922, the
previous postwar low point. Because
Of the fact that the new Southern pig
iron prices have not become established
by sales, the Iron Age pig iron composite
Is unchanged at S13.68 a gross ton.
Although automobile tonnage and
releases of tin plate by can manufac-
turers continue to be the outstanding
influences in raising steel production,
there are evidences of greater diversi-
fication of orders. Some of the new
steel business seems to represent de-
layed March demand and Is plainly of
seasonal character, but there is almost
a complete absence of speculative buy
ing, except to some extent IN pig iron,
and virtually all orders arc for imme-
diate shipment. the urgent demands
making it difficult for mills to meet de-
livery requirements.
structural steel awards this week
have shrunk to 4,200 tons, and it is ap-
parent that there will be no immedi-
ate revival of importance in construc-
ton work without Federal aid.
1.-The brewing industry Is contribut-
ing some orders, but many brewers are
delaying plans pending Qualification
of the outlook. In three issues Of the
Iron Age, including this one, brewery
construction projects totaling about
SIT, ,OO0, 900 has been listed"