DEVELOPMENTS IN STEEL

Taranaki Daily News, 25 September 1920, Page 11

DEVELOPMENTS IN STEEL

' EXPECT REVOLUTION IN BRITISH 1 STEEL. ; London, July 15. [ Large purchasers of American steel j arranged through London agents, recently have made great fortunes within 1 the past few months for several American business men. Britain is taking j steps to end her dependence on Ameri- . can steel. Plans are in the making to j produce the steel needed |or British consumption. When new plants are \ brought into operation, it is expected ' there will he a break in prices and this will make possible enlarged activities of smaller shipyards whose activities ' to-day are held down by high costs. Most important industrial develop--1 ments have been taking place in the last ' several months. During the past week the bla«t furnace at Ebbyvale, South Wales, the largest plant of its kind in r Europe, with a capacity of 3000 tons of steel a week, ,was opened. The cost is £1,000,000. Guy Barratt, leading steel authority, » told a correspondent that a revolution . of the British steel 'industry is near. 1 While America has passed what is rel garded as the high peak of normal pro- ; duction and must now retrace her steps '■ in' development, Britain is just coming 3 into her power development and the industry «an he depended on to hold ita ,ewn.