Show 0 WORLD LOOKS TO U S FOR STEEL upon the united states rests the responsibility lity of making up the tremendous worldwide sh shortage cortage of iron and steel caused by the war says herbert P howell vice president 0 O de nt of the national bank of commerce of new york in an article on the international market for iron and steel which appears in the july issue of commerce monthly that banks magazine of commerce and finance mr howell points out that the vast quantities of iron and steel used in the making of war munitions have left the world with a four years accumulation of needs for such metals for industrial uses great britain alone of the european producing countries today is capable of competition with this country in supplying this demand the world is short of iron and steel mr howell says the united states great britain and germany produce so 80 per cent cen or more of the total iron and steel output of the world while belgium is a consier consider the in able factor in the international market war had varying effects on the industries the T of these three european countries case of germany is clear As a producer war m of iron and steel for the international with w ket that country need not be reckoned depended depend et at present french production is on german coal and lack of fuel and an in far kept du disorganization have thus the it must below the prewar pre war level features glan gian industry shows encouraging and exports are increasing but dom belgium bei demand is heavy and the amount inter can export will not greatly affect the national market in the immediate future british position improving the of 0 the only active competitors the at american iron and steel producers of the present time are the iron makers united kingdom steel output in the of first five nio kingdom during the 1920 although at a lower rate than in ye year for any other was above the rate ports of iron and steel must still increase before they reach beach the rate maintained in 1913 remarkable increases over exports for 1919 are re shown by the british figures for the first four months of 1920 gains were ere made in all the items except six the gain for the different classes of products ranging from 8 per cent to over per cent the british position is improving and must not be underrated 1919 Recess recession ign a calamity the arrears caused by four years destruction st of steel and by reduced output after the armistice cannot be made up in the near future by any country except the united states yet in the first calendar year after the war american pig iron output dropped to tons which was tons below that of 1918 and practically the level of 1913 the fact that this reduction occurred without financial or industrial du disturbance is a matter for congratulation but in view of the five years accumulated need of steel throughout the world it is a calamity the first three months of 1920 showed an expanding rate of ot production but the railroad strike brought about a serious reduction so that the april output of pig iron dropped to tons the total for the first five months of 1920 was vas tons in spite of fluctuations production in the united states is being maintained at a rate more than double the present output of germany and the united kingdom combined canada must buy from Us despite unfavorable exchange canada must buy american sheets and plates to leep keep the e wheels turning in her own indus wes es the united kingdom received much larger ser quantities of steel ingots ingols and billets from the united states in march 1920 than ng the corresponding month of 1919 steel 1 for shipbuilding was exported to nice ranee in april of this year in spite of el change change difficulties and shipments of steel plates pates to italy aly in march exceeded those made ir in march arch 1919 it is to be expected that foreign customers will restrict their purchasing Dur p chasing 6 at times in response resDon se to tant exel elchan fange conditions but in such peri fl s the ev shortage tage grows and must eve rituallY ie be met la 1920 even evea burning assuming a production of pig iron and equal to that of the hest best war year a rate ate that of export somewhat higher than of 0 elul turpi the prewar pre O war years the exportable 01 to the united states tes is not likely aquai ean years ys annual exports in the united tely preceding 1914 the v 1119 nelom doin recover her is unable at present present to u t a former volume lume of exports except he bo sacrifice of domestic no 40 needs there can austion qu 6 stion f irela ign therefore 0 o as to sufficient 0 lets for an all the earl can spare dare united states III lna illel and more the american iron eel ta opacity dacita industry 1 try has the resources the a an lid Q the industrial organization to produce largely beyond domestic needs A responsibility rests upon this country to maintain production at a point where the industry can do its share toward satisfying the worldwide world wide need of steel |