Japan's steel industry must buy scrap steel or pig iron in the United States if the industry is to survive. The joker in our present dispositions is that only a hairbreadth divides ihe description of No. 1 and No. 2 scrap steel. Indeed, there is almost always a quantity of first-grade scrap in each shipment of the second quality. Dealers will wink more and more at a rising percentage of the higher grade if the price received for No. 2 scrap steel is adequate, some observers contend.
To counteract this tendency and to endeavour to bring all scrap metal under the licensing provision representatives of small steel companies who also buy scrap steel in the seaboard areas where Japanese buyers operate, plan to go to Washington this week to urge tightening of the restrictions. Opposition to any and all embargo measures on the part of the scrap dealers themselves has waned considerably in recent months, partly because their United States customers are active-
Text read from the printed page and cleaned; old type leaves the occasional error.