WORLD’S HUNGER FOR STEEL

Dominion, Volume 14, Issue 265, 3 August 1921, Page 6

WORLD’S HUNGER FOR STEEL

SUPPLY FAR SHORT OF DEMAND. Sir Robert Hadfield. Sheffield iron master. writes in the "World's Work": — Onco the steel industry in the respective countries can bo set humming, then will the wheels of every other branch of trade be set revolving with increasing momentum, to the advantage of general commerce and prosperity. Every nation, cognisant of the circumstance that its future is dependent upon the working of iron and steel, is accordingly buckling down to the supreme task. The truth must be told, and bluntly—there is not sufficient iron and steel forthcoming, or within sight, to go round. We do not appear to realise that had there been no war the industry, even had it been permitted to pursue its normal course of development, might have been hard put to it to satisfy current requirements. Probably at this date, wo should have been consuming 100,000,000 tons of iron and steel per year. But owing to the diversion of productive activity the output has been reduced to 65,000,000 tons a year. When the gulf between supply and demand is so yawning, is it surprising that many people must go without, and that etill more must be content with disturbingly short commons? These are the factors which provoke trouble, create unemployment, and stimulate uneasiness and unrest all round. No epuntry, at the present moment, is even in the position to be able to satisfy its domestic demands, let alone contem. plate the practicability of maintaining export upon a sufficiently big scale as, to be able to secure world-wide, domination —that is, if requirements continue upon the pre-war basis. Consideration of the export's for the respective years of 1913 and 1920 by the four leading producing countries of t'ho world is decidedly illuminating:—

Ono country, the United States, is seemingly in the position to lie able to conduct a campaign of commercial conquest in regard to iron and steel with anything approaching success. Yet, notwithstanding her extensive equipment, she is far from being able to attain a dominating position. A real world-wide famine in steel exists, and has not been artificially created. It is difficult, if not impossible, to estimate the world’s current requirements of iron and steel; they are so vast. Ah that can be done is to accept known demands, which have been advanced as an index to the general situation. In the United States the reduct in most urgent request is iron rails. It has bebn asserted that no fewer than 12,000,000 tons are immediately required to enable the railway companies to restore their lines to the condition in which they would have been'but for the war. This would mean practically that one-sixth of the total mileage of the country required relaying. At the moment the world is crying for nearly twice as much steel as is forthcoming, and for immediate absorption. It is a staggering problem. The situation could not be more disastrous if wheat instead of steel were involved, and to a corresponding* degree. The result would be just the same. The working of steel in its thousand and one different forms provides the wherewithal not only tm purchase bread, but to raise more wheat to satisfy the increasing demand for bread which is being experienced.

Germany Great Britain . U.S.A Franco .913. Tons. . 5,500,090 . 5,0'0,000 . 2,750,009 .. 830,000 1920. Tons. 200,000 3,300,000 4,300,000 500,000 Totals . 14,080,000 8,300,000