Markets for iron and steel products continued quiet, although producers generally have been ver active and there has been little evi dence of any falling-off in delivery Many consumers have covered their requirements for some time ahead and appear to be reluctant to enter into further contracts, In anticipat tion of the reversion of the British import duties on certain iron and steel products to their former levels after March 31, foreign suppliers accolorated their deliveries of these materials and, as a result, there has been congestion in several directions, At the end of February, there were 124 furnaces in blast, compared with 130 at the close of Jnauary, and the output of pig iron during the month amounted to 693300 tons, against 761,100 tons in January, 1938, and 603.700 tons in February, 1937. Although the latest figure shows a reduction compared with the preceding month, the average daily rate of output was greater. The production of steel ingots and castings during February was also very large, totalling 1,057,600 tons, the highest figure ever recorded in February throughout the history of the industry compared with 1,081,400 tons in January and 995,900 tons in the corresponding month last year, Exports of iron and steel and manufactures thereof during February were smaller than in January, but, compared with while their volume was less, their v alue was higher.
The cotton industry; was very quiet last month and sales of both yarn ce goods were small De-instructions under existing contracts have also been limited and substantial stocks are held by both producers and distributor While export trade has been dull, there have recently been signs of a slight improvement in the home market,
Text read from the printed page and cleaned; old type leaves the occasional error.