Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-06
A Steady Market With Ruling
Prices On All Lines Well
Maintained.
LARGE SALES OF BESSEMER.
Hopeful Signs Which Indicate That July's
Shutdown Will Be Light.
THE ACTUAL TRANSACTIONS RECORDED.
Condition of the Markets at All the Leading Iron
CenterS
OFFICE OF PITrSBURG- -DISrATCH, }
ERrnax- Z

FRIDAY, June ).
RAW IRoH AND STEEL-Trade since our last
was reasonably active. The volume OF bust
ness shows up well and will compare favor
ably with former seasons. Prices for Ger
tain descriptions are weaker, but for others
have been fairly maintained. Pittsburg
furnaces have only limited amount of iron
for sale; others refuse 10 accept orders, pre-
ferring to deliver blocks previously sold.
The sales of Shenango and Mahoning Valley
iron for some weeks past have been liberal,
including many extending for several
months, and 10000 tons Bessemer extending
all 1891 Prices in the valleys have been well
maintained, being fully up with Pittsburg
for Bessemer and gray forge. We learn,
from an authority that can be relied
on, that n number of furnaces will
be started during the next ten days.
What effect this will have on the market
value of iron remains to be seen. 1t may be
that the increased consumption will keep
pace with the increased production. There
Is n degree of steadiness, however, which is
certainly encouraging, when we take in the
situation at other points together with the
financial depression.
4 Midsummer Boom MAY Come.
As q general thing, June is not very ac-
tive month"; the first of July being the time
set to close for stock-ta1ing and repairs and
necessary arrangements for the balance of
the year. On account of so many furnaces
closing down for want of coke early in the
season some are now making ready for re-
sumption, and will, no doubt continue in
operation as long as prices will justify. In
that event July will witness only partial
closing this year. All accounts agree that,
stocks OF leading descriptions OF iron being
limited, the prospect for lower values is not
very favorable; besides, prices are as low as
can reasonably be expected.
-
mills have increased the amount of orders
on their books, andat the extreme low prices
recently ruling have the offer of still larger
amounts. But it is felt that, having quite
enough to carry them through the present
month, it Is Just as well to wait develop
ments, especially as there is no margin for
profit at prices offered. The collapse of the
coke strike Is regarded by many as inimical
Consumers claim a reduction in coke and
ores, and although there is nothing definite
so far the chances seem to be in their favor.
Iron ore continues TO be sold at last weeks
quotations. but several furnaces are still
holding OF and only buying what is neces-
s2ry FOR immediate use. From this it would
seem they expect lower prices to prevail.
The Markets at the Close.
NE.v STEEL RAILs-No important sales were
made since our last; current rates, $50 I. O. b.
on cars at works The outlook seems better
for summer and fall business.
THE SlTCATIoN-Demand active with lib
eTal transactions; June delivery commands
the highest figures: futures show q wide
range in values.
Gray Forge-Favorite or city furnace iron
steady with sales last weeks prices.
Steel Slabs and Billets-Spot unchanged;
late deliveries show more firmness
FarrO Manganese-Domestic unchanged;
Baltimore and New York prices lower.
Muck Bar-Demand improving; holders |
frmer.
Bloom Ends-Current sales last weeks /
figures.
steel Wire Rod5-Amcrican fires, prices
Sl1elp IrOn-Sarrow and wide grooved un-
changed: sheared, 2l5 cents lower.
Old IRON rails dull.
Scrap material weaker.
Market steady ana prices maintained |
Large sales of Bessemer muck bar and steel |
billets. Other descriptions show no particu- |
lar change.