The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1880-07-17 00:00:00

THE IRON - TRADE.

WOLVERHAMPTON, Wednesday.

A more cheerful tone and greater confidence
as to the immediate future of the iron trade
pervaded the meeting on 'Change this afternoon.
Inquiries were fairly numerous, and prices had
an upward direction. Marked bars ruled firm
on the £8 basis, and unbranded bars were dis-
posed of at £6 ilk and £7. Makers were
pressed to book orders atthe rates they would
have accepted a week ago, but they invariably
declined to accept at those rates. Hoops arid
strips were sold with tolerable freedom, and
common sheets were 6s. a ton dearer. A report
was current that some of the galvanisers had
increased their quotations Ll. per ton. Girders
and other constructive sections were in much
better demand, contracts for several large
bridges to be erected in fereign countries having
been given out within the last few days. Pad-
dled bars also realised about 2s. 63. per ton
more money. Stamping sheets were in improved
request. The pig trade was particularly strong,
and prices were moving upwards. Sales of
some small lots of best hot-air metal were (lone
at £3 17s. 6d. for forward delivery. Cinder
pigs were quoted at 455., but part-mine were
scarcely touched, owing probably to this class
of metal being pretty largely sold at the quarterly
meetings. Cleveland iron was dearer, and bar-
gains that might have been made last week of
Lancashire hematites could not be booked to-day.
Prices, too, have every indication of hardening.
Many of the producers of ironstone have With-
drawn, their books being filled with as many
orders as they care to have on hand for the
present. The demand for manufacturing fuel
was more animated, but prices showed no im-
provement. Household coal was in weak de-
mand.

BIRMINGHAM, Thursday.

A more business-like feeling prevailed on
'Change this afternoon than is customary at the
first meeting subsequent to quarter-day. A good
many contr.cts resulted during the week from
the quarttrly meeting, and as u conse,pience
there is an increace of 'activity observable at the
mills, forges, and blast furnaces. Preparations
are already being made for re-lighting s.-:veral
furnaces that were lately blown out, (!eonind
having suddenly began to expand and prices to
advance. Local pig iron producers freely sold
their make this afternoon, end a fair business
wai a!so done in Northampton and Derbyshire
iron at enhanced quoiations. Marked finished
iron was in steady demand at firm prices, and
inquiries for unmarked iron were numerous, hut
manufacturers refused to accept forward con-
tracts for a longer period than two months hence,
except at from 53 to lOs advance upon the prices
nor-7 to rlised, which are 5s or 103 atc n hi.:4lrer
than the rates prevaitio, :t ago. Co :a •
own iron sold at from ..tri to lOs a ten, and
„odium qualities up to as high as ..t7 to £1 54
at works, with us extra delivered in Liverpool.
Nail rods were in improved requirement for local
consumption, and also for export. Enginerring
and heavy ironfounding firms are busier, and
with settled weather they anticipate a large ac-
cutuulation of orders. Coal for manufacturing
purposes was in much better request to day, fruit
there was a general stiffening of urices. Several
;arge forward contracts were refused at the ex-
isting low rates.

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