The Express.
London, England, 1853-01-08 00:00:00

METALS,

Mr. Moate's circular states that the iron market
has steadily maintained its position this week, and although
Scotch pig has been sold in one or two instances at a trifle
below the present quotations, the principal holders have
shown no disposition to give way; but, on the contrary,
buyers have taken the advantage of securing any parcel
presenting itself. The past year has shown an immense
improvement in the value of iron, and the demand which
has arisen fully warrants the great advance in prices which
has taken place. The stock of Scotch pig iron is reported
at 450,000 tons, but when it is considered that the present
demand for manufactured iron is actnally.more than the
whole trade of Great Britain can supply in a reasonable
time, it will readily be seen that the stock of raw material
should be proportionately increased. Pig iron and rails
have advanced more than one hundred per cent.
since the early part of the year, but at that
period prices were at the lowest ebb, and the
production far from remunerative either to masters or men,
'while the prospects of the trade were of a most gloomy
description; but the increased progress of railway opera-
tiens in the United States and other quarters of the globe,
and the sudden demand for iron which has simultaneously
sprung up, has naturally had the effect of stimulating the
market to an extent only equal to its previous depression.
It may appear remarkable that, with an increased stock,
the price should have doubled itself within a few months;
but the overwhelming supplies of gold which are conti-
nually arriving In America and in England must account
for the sadden change in the price of this metal as well
as in all other commodities which, notwithstanding in-
creased stacks, have also shown advanced prices: while
lat the same time, there is not • commodity which has
experienced each an enormous demand from unexpected
channels es iron, during the year which has just elapsed.
'Scotch pig iron is quoted firm at 745. cash for mixed num-
hers, with buyers • shade lower. Rails, forming the most
important branch of the iron trade, continue steady with
large inquiries in the market ; all the makers are in full
operation, and unable to enter into any contracts for early
delivery ; the orders already en hand extend far into next
year. The quotation stands at 91. 10s. f. o. b. in Wales.
Welch bars have followed other descriptions of iron, and
are gradually reaching the price of rails. Makers ask 91.
to 91. se. per ton. In Staffordshire prices have also
ce ai-
vand about 90 to 100 per cent. during the last twelve
I months, owing to the large orders for rails on hand. Hoops
and sheets, tic., have been scarcely obtainable. Speller
was sold as low as 141. 2s. 6d. in April, but a succession of
operations has gradually advanced the price to 201. per ton,
at which sales are being made. A large quantity has
ehanged bands this week, and holders are looking
for much higher prices. The stock on the Ist instant
consisted of 12,934 tons. Swedish steel has ad-
vanced to 201. per ton. One or two lots to arrive
are offering at 191. Copper, owing to the scarcity of
ores, has risen 201. during the year, and the article
is very firm at 1071. 10s. for tile and tough cake,
with a limited quantity in the market. Lead has improved
about 71. 10v. per ton. There is an immense demand for
this metal, chiefly for the United States, and the price bids
fair to maintain the ascendancy for several months. There are
no sellers of pig under 241. per ton f. o. b. in London. Tin
plates gradually fell to 225. for coke in May and June, and
in some instances lower prices were accepted ; this article
however has come more under notice, and makers Dave
taken very large orders for forward delivery. Coke has
been sold at 295. and charcoal 345. per box; the latter des-
I cription is now more in request, and holders ask 335. to 38s.
per box, f. o. b. in London.

WESTERN RAILWAY OP FRANCE.—Traffic for the
week ending Jan. 2, 1853 :-4,852/. ; corresponding week
ilaet year, 3,0191. Niles open, 99.