IRON AND STEEL PROGRESS
Notwithstanding clear indications of a recession in several industries which consume the products of the British iron and steel industry-for example tin plate and several branches of engineering-the iron and steel industry itself has so far suffered no contraction of activity. The figures of the British Iron and Steel Federation show that production of pig iron in the first quarter of 1938 amounted to 2,169,000 tons, an increase of 234,300 tons, or 12 per cent. over the first quarter of 1937, while steel production amounted to 3,254,800 tons, an increase of 150,500 tons (approximately 5 per cent.). All that has so far happened to the industry is that deliveries have become more normal, and that with the higher volume of pig iron imports a certain number of furnaces have ceased operations. There were 118 in blast at the end of March, compared with 124 at the end of February.
J. D. M.
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