STEEL TRADE PROBLEMS

New Zealand Herald, Volume LXXV, Issue 23115, 13 August 1938, Page 11

STEEL TRADE PROBLEMS

BRITISH INDUSTRY DEARTH OF NEW BUSINESS NEED OF LOWER PRICES The British steel industry remains fairly well employed in its leading sections upon the execution of old orders, but it, like the rest of the world, is faced with a dearth of new business, and some reluctance on the part of consumers to take delivery of old contracts, states the Mercantile Guardian, London. World unrest is the main factor in destroying confidence and slowing down the wheels of industry. Some uncertainties have been removed by the decision of British makers to stabilise the current prices of pig- j iron and steel up to the end of i the year. In spite of some new j shipbuilding orders for Soviet, Greek 1 and British owners, this move has not j yet brought fresh business, and indeed j has caused some grumbling, although it should help over-bought holders to < liquidate their stocks. At least the ] bugbear of waiting for months for ; much-needed deliveries has disappeared. ; After the long run of prodigious and ( very profitable activity, the proposal ( that the Government should assist by taking large stocks off the market and holding them has aroused cynical comment. There are some unsheltered trades which might with more reason and with better face solicit the same favour. Significantly, people are asking when the long-expected reorganisation of the steel industry is going to achieve those 1 lower prices which, most dealers say, ! present the only way of attracting a J larger home or export demand. The industry is in funds and much individual modernisation has certainly taken place, but the chairman of one t large steel company has voiced his be- ] lief that a real rationalisation is still necessary to obtain the most effective 1 results. • Steel production in America is still £ in a parlous condition and the Contin- 1 ent is feeling severely the setback in < constructional trades, and in export demand. The Belgian steel industry having at last come into line, a re- ( constitution of the International Steel 1 Cartel has been achieved, and one ' potent source of uncertainty removed. < THE CITY MARKETS ORANGES 5 N GOOD DEMAND DECREASE IN EGG PRICES A price of liis a case was realised at the City Markets yesterday for Norfolk Island oranges, a shipment of which arrived by the Tasman on Thursday. The vessel brought 500 cases of oranges and a small consignment of grapefruit, mandarins and bananas from Norfolk Island. Australian oranges were in good demand, and among local fruit 3 apples, pears and grapefruit were cheap and plentiful. Lemons were in better demand. The Maunganui is expected on Wednesday with a shipment of Fiji bananas, and the Wanganella on the same day with further supplies of Australian oranges. Supplies of cauliflowers and cabbages were heavier and prices lower, and carrots were also plentiful, although prices were a little higher. Pumpkins were still a glut on the market, and kumaras were plentiful and cheap. Lettuce was marketed in fair quantities, high prices being secured for the best quality. Celery was in good supply and sold well, and potatoes were still cheap, although Ohakune potatoes were in demand. Prices for all grades of eggs decreased by 2d a dozen from the previous day. Flowers sold well and there was an increasing supply of daffodils. Hyacinths brought very high prices, and the first tulips and outdoor freesias were keenly sought. There was a moderate supply of Eoultry, and the demand was fairly een, with prices again slightly lower. Values were: — FRUIT Apples.—Delicious, 4s to 6s a case; Ballarat, 4s to 6s; Dougherty, 5s to 7s; Granny Smith, 4s 6d to 6s 6d; Munro, 3s to 4s; Rome Beaaty, 5s to 8s 6d; Statesman, 6s to 6s 6d; Sturmer, 4s to 6s; Winsap, 6s to 9s; pears, Peter Barry, 5s to 6s 6d; Winter Coles, 6s to 9s; Winter Nelis, 4s 6d to 6s 6d; tomatoes, hothouse. Is to Is 9d per lb; tree tomatoes, new black, 6s 6d to 9s 6d; yellow, 4s 6d to 6s 6d; No. 2, 3s 6d to 4s; oranges, Australian, 15s to 21s; Norfolk Island, 15s; grapefruit, New Zealand, extra choice, 4s 6d to ss; others, 3s 6d to 4s; Californian, 32s 6d; lemons, choice cured, 7s to 8s 6d; others, 4s to ss; bananas, ripe, 8s to 21s; pines, Queensland, 12s 6d to 18s; mushrooms, 3s to 3s 3d per lb; coconuts. 15s a sack. FIELD PRODUCE Beet.—9d to Is 6d a dozen; celery, cooking, 9d to Is 3d a bundle; dessert, Is 6d to 3s 6d; carrots, 3s to 5s 6d a bag, 9d to Is 6d a dozen; cauliflowers, 4s 6d to Ss 6d a sack; on benches, 3s to 9s a dozen; cabbages, 3s to 9s 6d a sack; on benches, 3s to 6s a dozen; cucumbers, 4s to 7s a dozen; kumaras, Island, lis per cwt; Tauranga, 3s to 4s 6d a bag; leeks, 3d to 6d a bundle; lettuce, 3s to 13s 6d a case; marrows, 2s 6d to 4s 6d a sack; onions, choice local, lis to 13s a bag; potatoes, southern, 6s to 6s 6d per cwt; Ohakune, 3s to 5s 6d a bag; pumpkins. choice Triumble, 4s 6d to 8s a sack; medium, 2s 6d to 4s a sack; parsnips, 6s to 9s 6d a bag, Is to Is 6d a dozen; radish, 6d to 9d a dozen; rhubarb, 2s 9d to 4s 6d a dozen; spinach, Is 6d to 2s 6d a dozen; spring onions, 6d to Is 3d a bundle; swedes, 2s 6d to 4s a bag; turnips, 6d to 9d a dozen; Brussels sprouts, 8d to lid per lb. POULTRY Cockerels. —Heavy breeds, prime, 5s to 6s 9d; not prime, 3s up; light breeds, prime, 2s 6d to 3s; not prime, Is 6d up; fat roosters, heavy breeds, prime, 3s to 4s; light broods, 2s to 3s; fat hens, heavy breeds. 3s to 4s 9d; light breeds, 2s to 3s 9d; pullets, heavy breeds, best, 4s 6d to 6s; smaller, 2s up; light breeds, best, 4s to 7s: smaller, 2s to 3s; drakes, young, prime, 3s to 3s 9d; smaller, 2s to 3s; old, 2s to 3s; ducks, young, 3s to 4s 6d; old, 2s to 3s; geese, 3s to ss; turkey hen 3, 5s 6d to 7s 6d; gobblers, 7s to 10s. EGGS AND BUTTER Eggs.—Hen, A grade. Is 6%d a dozen; B grade, Is sV a d a dozen; C grade, Is iy a d I a dozen; duck, A grade, Is sy a d a dozen; B grade, Is 4%d a dozen; C grade. Is 2%d a dozen. Farmers' butter, Is Id to Is 3d per lb.