Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-30
The End of the Prolonged Coke
Strike Is Now Being Felt at
Furnace CenterS.
THE OUTPUT OF THE vALLIES
Heavier Last Week Than IL Has Been at
Any Time Since the Shutdown Plan
Was Put in Operation.
HEAVY TRANSACTIONS IN IRON ORE.
How the Markets Are Analized by Brokers
and Dealers.
OFFICE OF THE PIrrsBuRG DISPATCH,

OFFICE OF THE PITTsBURG DISPATCH, !
FRIDAY, May 29.
RAW IRON AND STEEL-Trade since our last
report has not been so active; still the
volume of business gives little reason fol
Complaint. As to price the situation is differ
cnt. Values in many instances show a wide
range. Bessemer pig for some weeks has at
tracted attention. The operations have been
large and for various deliveries. Welearned
of one, about 10000 tons, deliverable monthly
until January l, 1892; other sales were made
extending several months ahead. Sales exhib
tied wide range. One thing is certain-th6
price for Bessemer now is undoubtedly the
the principal cause of so many purchasers
Another evidence that prices are low is thai
when makers of Bessemer are large buyers
they prove their opinions by purchasing
instead of making. Parties interested can
draw their own conclusions.
The settlement of the coke strike removes
one difficulty that caused anxiety at certain
points. For most descriptions buyers are
very conservative, and manifest little conf
dence in the prediction of higher prices. On
the other hand, there are sellers who are
unwilling to contract to deliver iron at
present prices during later months.
An Experts Views Submitted.
A leading dealer had this to say about the
coke situation: "The strike being practically
resumption of full activity. 1t is not un-
likely, however that this will induce the re-
sumption of operations to any great extent
on the part of furnaces now idle, and it is
not probable there will be any material in
crease in the production of pig iron until the
demand shall broaden"
There is n general belief that the lowest
figures during 1891 will prove to have been
reached in the second quarter of the year.
and while there seems to be little probability
II an
quarter, there is some proba bility of move
ment of that kind later on. That will de-
pend upon q variety OF influences not vet
apparent. But it is encouraging to note
that the tendency seems to be in the right
direction, and with continued favorable re-
ports there is every reason TO hope for cor
responding conditions in the iron trade
SOUTHERN PIG IRoN-Our remarks last week
were well received by iron men and pro-
nounced correct in all respects. One dealer
says: "Our attempt to introduce Southern
pig cost US over $500, when we gave it upand
don't propose to experiment any more"
Stocks of pig iron in the Mahoning and
Shenango Valleys are reported exceedingly
night, the principle amount made being con-
IRoN SALEs-One hundred thousand tons
taken from the Cleveland wharf, prices
ranging from 81 5Oa5 %, as per quality. New
steel rlils-No special sales since our last:
market firm with sales at works, S30
The Situation Summed Up.
The situation may be summed up as fol-
lows: BeSsemer-Prices weak, very un-
certain; late deliveries sold at low prices.
Gray Forge-StanGard brands are held
firmly, with light stocks in the market. Steel
slabs and bIlets unchanged; demand has
fallen of. Fereo-manganese unchanged
here and in the East. Muck bar-Demand
has fallen of, with light sales at last weeks
prices Bloom ends-Sales made at Csc de-
cline. Steel wire rods declined 25c Skelp
iron unchanged. Old iron and steel rails
dull and weaker. Scrap material-Sales show
q Slight decline.
THE LATEsT-The demand for Bessemer
and gray forge during past IS hours was
heavy. sales below tell the whole story
Transactions in the Mahoning and Shenango
Valleys were the largest for a long time.
COLE S,r1-1 TIL, LIZ .,-r, - ,.r,-.. 90