Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-07
BUYERS ARE WAITING
For Concessions in Nearly All
Branches of the Metal Market.
AMERICAN PIG is RATHER DULL.
Some Shading in the Figures on Steel Rails
is Reported.
THE CONDITION ACROSS THE OCEAN
,srrcrAL TELEGRAM TO THR DISPATCH, /,

,srEC1AL TELEGRAM TO THH DrsPArcH.l
NEW YORK, March 6-The Iron AGE re-
view OF the market is as follows: In every
depaltme of the iron and steel trades the
one general feature is the desire of
buvers to wait before purchasing. Unless
they actually need material for immediate
requirements they cannot be tempted bv
offers, fearing and believing that the ten
dency is downward and the want seems
cheap to-day, maybe dear few weeks
hence This attitude is surprisingly gen.
eral. and in it lies some danger to the market,
since when the turn does come it is likely to
come with rush.
THE PIG MARKET FLAT.
In American pig taken as o whole the mar
ket is fat. with very little business being trans
acted. Foundries generally are reported to be
very well covered for 4 considerable time to
come, so that consumers seem to have the bet
ter of it in their facility await developments.
Outside lots are offered at low prices, small
parcels OF No. having gone shopping at SIS 50.
The Birmingham triumyirate is reported to be
still intact, so that no open cutting of agreed
prices in that quarter for Western markets has
yet taken place.
We quote No. l foundry, SIG 2592o; No.
foundry, SIS 25@lS SO. and gray forge, Sl7GlS at
tidewater.
In SpieCeleIsen and ferro-manganese, there
is complete stagTation in the market foT man
Eanifer0us mate.ial so that values are entirely
nominal. We quote 20 per cent Splegeleisen
SS5G35 50 and ferso-manganese SS5@90. accord
ing to time of delivery.
In wire rods thee is increasing pressure to
sell, so that quotations in the West have re-
ceded TO Si96i9 30 which would be equivalent
TO about S5365S 50 at tidewater.
SOME SALES OF STEEL RAILS.
7, s.oo1 -,,1s sor,o e,1ee r,,ro 1,oor, ,,,ado :,
this vicinity and in New England, aggregatlng
about 200 tons. Besides a number of small
blocks have been placed South and West.
There is keen competition both East and West
TO Judge from the report of the Eastern mills on
the Western market, and the talk of the Western
agents Of the doings of the Eastern mills. The
market is weaker in both sections. and a good
round order for desirable delivery would tempt
some of the mills to make close prices. We
quote nomnaliy at Eastern mills S3i 50635,
with the same quotations for the Pittsburg
district.
In track material the market is weaker, with
sales in this vicinity. We quote spikes
2l5G2 25c: angles. 2lO912 l5c: bolts and hexagon
nuts, 3215S.25c; and bolts andsquare nuts, BLOC
delivered.
NO CHANGE IN STRUCTURAL.
Only details were discussed at the meeting of
beam manufacturers at Pittsburg last week. no
change being made in prices. We understand
that the total production of beams by the do
me tic mills in 1889 was 1Ul.000 TONS This
clearly ind d,cates how largely the demand for
structural iron has developed. The market
now is quiet with transactions Of any con-
sequence closed in this section. We quote on
iron universal mill plates 220c to 225c; on
angles. from 220c to 2.S0c: on tees, from 2G0c to
27Cc. and on beams and channels BLOC on dock.
In plates we note a sale of moderate lot of
marine steel at 3.20c delivered.
n p1d nyofrT he p1aCN flron
lots from 4 trunk line aggregating 1000 tons at
private terms, chiefly for Western delivery.
The market is dull with some pressure to sell
and little demand. We quote nominally S254
Is SO for domestic tees.