Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-26
IRON TRADE REVIEW.
Everything Pointing Toward Re-
vival After New Years Day.
PRICES ARE TENDING UPWARD.
BeSsemer and Gray Forge Firmly. Held Here
at a Fair Advance.
SOME PREDICTIONS ALREADY VERIFIED
OFFICE OF PITTsBURG DISPATCH, I
FpInax dec %

OFFICE OF PTTTsBURG DIsPArcH,l
FRIDAY, Dec. %. !
RAW IRoN AND DSTEEL-The iron and steel
trade NAV thus be briefly summarized-an
enormous production OF pig iron and
reasonably firm market with demand in
creasing for most descriptions, general
tendency toward Improvement. So the
pig iron branch seems TO be in pretty safe
condition for the present. In spite OF the
increasing output of pig the market retains
its strength in a remarkable degree, with
steady Improvement in some cases. OF
course current business is lighter than dur
ing the first davs of the month, as orders
then placed covered the wants of consumers
for some weeks in advance. One reason
for slackness Just now is that those who
can wait Tor iron are holding their orders
until a ftel the beginning of the year. The
new business being placed is made up
chiefly of small orders Tor immediate de-
livery In regard to the price of raw iron
al part pS9SeS so,1 rem davs since. While there
are vet unbcicvers n large majority are
firmly of the opinion that the new year Will
witness large increase in the demand anu
that better prices VIII rule.
4 Further Decline Improbable.
4 welI-inforned iron dealer has this TO
for some weeks past..it is evident that large
consumers regard the chances of a decline
as not favorable The conditions are SO
different in many respects from any that
have been heretofore experienced that IL Is
exceedingly hazardous to make preolctlons.
We have the fact of an output averaging
over 800 600 tons per month, to absorb which
we have the probability OF the lar3est coh-
sumption on record.
Since our last report prices of steel bfnsts
and slabs have stitfened very materf!ily, an
advance being demanded on Doth oescrlp,
tionS Certain makers have refused TO sell
at prices that rul 9 tor some time past. bes-
semer is also held at an advance fof spot
and future delivery. Gray forSe-Inere are
no sellers II prices that were current snort
time ago. A turnaceman remarked: MY
furnace is out of blast and will so remain
until further advance is establlshed.
Structural lron remains quiet. FROM the
number of large buildings projected tor next
year the demand will certainly be large
Old iron and steel rails scarce; holders nrfn
in their views. scrap material quiet, prices
weak New steel Iails-Market STEADY at
unchanged prices.
Some Predictions Verified.
TRE LArEsr-The parties who have read
the iron reports of this paper will be fully
prepared Tor what is to follow. During the
past two weeks from actual observation
we became fully satisfied that iron and steel
had reached a point AZ which makers would
not accept lower figures, and several have
refused TO sell at prices then current. OF
course there was n wide difference of opin
ions in regard TO the future of the market
We stated in our last that the outlook was
decidedly better that Bessemer was advanc-
ing: that moSt descriptions were firm and
tending upward Last week Bessemer sold
as low rs SIS. This week SIS 50Gl5 20 is de-
manded Tor January, February and March
delivery 1892. and, what is more, sellers are
not anxious and are making no efforts for
new business at present prices. Gray forge
is firm with sales OF 800 tons at Sl3 65-the
highest figure Tor a long time. Blooms and
billetS are on the up grade, with sales at 50
cents per ton advance in some instances.
Piutsburg parties closed a contract With st.
Louis that viii require a large amount of
raw iron. Steel rails are firm and active,
previous prices being steadily maintained.
COKE. sNiELTED LAKE AND NATIVE ORES.