Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-21
THE IRON MARKETS.
In New York the Market Continues
Quiet With Moderate Sales.
AN IMPROVEMENT IN ENGLAND.
Easier Money Rates Have g Tendency to
Encourage Purchases
A BETTER DEMAND In PHILADELPHIA
nr,crII rrLEenAn 70 rnn prsrArcH.,


NEW YORK, February 2O.-The Iron Age
says of the American pig iron market:
The market continues quiet with sales
on q moderate scale. The coal min
ers' trouble in the Birmingham dis
trict is reported to be over. This means
that three new furnaces which have been
ready to blow in can soon be lighted. An
interesting fact indirectly affecting the East
ern market is that the Sheffield, Ala, fur
naces have begun the delivery, on contracts
aggregating about 5000 tons, Of pig iron
for the Wheeling and Pittsburg districts
having secured rate of 81 50 from the largest
PIttsburg coal shippers who had their empty
barges at Sheffield. We continue to quote No.
] foundry, SIG 5O02O 90 and No. foundry,
SIS 5O@l9 co. The Spiegeleisen market has been
weak, under efforts on the part of some i'm
porters to draw out offers from consumers.
Makers prices have not as yet declined as
much as these speculative lots. We quote
nominally, SS6 oO@S6 50. FerrO-Aanganese has
been quite active at decline. We note sales
aggregating about 800 to loo tons, chiefly to
works in the Pittsburg district at varying
prices. May delivery has sold as low as SIS So
while March has been placed at S92 for a small
lot We quote SIS OO@S9 90 for early delivery
Billets-The market has been very quiet
Reports that an Eastern mill has purchased
25.0OO tons in Wheeling district are authori-
tatiTely denied.
Steel raiIs-Tn the West the Atchison, Topeka
and Santa Fe Railroad have bought II. 600 tons
this week.
Wire rods-The market is weaker, domestic
mills for the first time in 8 considerable period
being on the lookout for orders. Foreign rods
are weaker, but are still above domestic
prices. We quote domestic equivalent TO tide
water delivery nominally S54655
Steel rails-The market has continued very
quiet, no sales of any magnitude being re-
ported by Eastern mills. We quote SS5 0O9
IS 50 nominally at Eastern mill.
Old rails-There has been some business in
old rails at lower prices. and there are rumors
of low offerings of some rounds afloat We
quote the market S26 0O@26 SO nominalIy.
A philadelphia dispatch to the same jour
nal saws:
Pig Iron-There is no material change from
last week, although the general feeling is in
the direction Of improvement. There is a bet
ter demand for foundry iron, which are freely
taken at quoted rates, although mill irons are
a little slow, unless concessions are granted.
Still consumers show more interest in the mar
ket and the indications point to growing de-
mand in the near future. Prices are firm at
from Sl7 so to SIS, delivered, for Gray forge;
SIS 50Gl9 for No. foundry, and SIG 75G2O Is
for No. / with 80 cents to IS cents more for
special brands So far as concerns the trade
locally, the outlook is considered favor BILE for
an improving market. Stocks have not accum-
ulated to any extent while the sttitude of con-
sumers shows that supplies with them are at a
low point and that replenishment will be neces-
sary at an early date.
Bessemer pig-There is absolutely no de-
msnd, so that prices are entirely nominal at S2I
at furnace.
Spiegeleisen-Prices are unsettled and lrreg-
ular, with very little disposition TO make firm
offers in the present condition of the market
Sellers quote about $S6 so, C. i. f. ct al, duty
paid, but S359S5 50 would probably be a buyers
full limit to-day
Steel rails-The market is dull and prices not
more than steady st SIS at mill Intimations
are made that business has been done at SS4 So
but it is difficult to get the details.