SHORTAGE OF STEEL

Taranaki Central Press, Volume IV, Issue 358, 12 February 1937, Page 5

SHORTAGE OF STEEL

SERIOUS POSITION.

MILITARY NEEDS.

Review Of World Position Of Industry. Press Association—Copyright. Received 1.10 p.m. London, February 11. A high official of ihe British Iron and Steel Federation declares that Britain must get an extra 2,000,000 tons of scrap-iron for one year’s production. The shortage of steel, however, is not confined to Britain. The United States, which has exported large quantities of steel tn Europe in the past. now needs the’ entire output to meet its home requirements. Paris reports that its resery.e steel stocks have'long been exhausted. Lome reports that the Government is rationing steel. Private consumers have to give place to the requirements for national defence, Berlin reports that construction activity is held up, as military requirements are taking all available steel. Brussels says that the steel situation is serious. Owing to the shortage of coke, production is declining by 20 to 35 per cent. Tokio reports that the Government has suspended the import duty on pigiron and steel, though this means a huge decrease in Customs revenue.