Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-13
IRON TRADE REVIEW.
A Heavier Tonnage Reported in
This Weeks Sales Than
Ever Before.
3,750,000 TONS OF ORE SOLD.
i - 4 Great Demand for BeSSemer at
the Prices Predicted in
These Columns.
3,75O,OOO TONS OF ORE SOLD.
BLOOMS AND BILLETS GOBBLED UP
The Condition Of Business at All the Principal
Iron CenterS
OFFICE OF PITrsBunG DIsPArcu, !
Fprnav Tnna 10

OFFICE OF P1TTSBURG DISPATCH,
FRIDAY, June u.
RAW IRON AND Notwithstanding the
fact that the last of JuNe IS the time selected
Tor stock taking and general repairs, the
iron market for some weeks has presented
what may be termed healthy indications,
with liberal transactions for certain de-
scriptions, particularly Bessemer. One
leading firm, known to be among the
Ehrewdest dealers in the business and large
makers themselves, purchased within the
last 90 days 5000 tons of Bessemer. Their
confidence iii the fact that prices have
touched bottom is shown by their purchases.
Even now they could resell most of their
Bessemer at a profit. Tho fact is there is
scarcely any stock of that article left, prices
being fully IS TO 81 cents above lastweek's s quo
:ations There is also an improved inquiry
for futures with sales made extending dur
iE:: she next six months as a fact the price
CT Ba@~emer is entirely TOO low. There arc
no safer indicat ons of the arket than that
uf prices, and rn-day, with trifling eXcep-
IONS, they MAY he said 10 be absolutely tlTEl,
So, much 50 that another week OF two OF good
business similar to the present one would
undoubtedly lead to advances on most de-
scT:nt;OHs OF iron. Important changes are
OF course not to be expected; but Ii must be
gratifying 10 the trade generally to find that
there is market. and that prices can be de-
pended upon, which could hardly have been
eaid with any degree OF confidence for some
months p@st.
Furnaces Well Sold Up.
Grey forS0 iron, standard or city make, is
hcld FIRMLY ut outside rates. Southern and
unknown brands continue to sell at various
prices. according TO the purchasers fancy.
PittsbrIrE furnace always commands good
iI,Grn. At present they are well sold up
and have Ont little to offer.
Shv1un:u and Mahoning Valley Iron-Thc
ffis oil
prices are fairly maintained, and in some in
stances alc sold above Pittsbury. This speaks
well Tor those makers.
New S:"e! R;tils-Tho market remains
steady This la,s been tie situation for some
ti;uc. Nominal prices AZ the works, S29630.
AG Eastern mill l. reported 10 have booked
All order for about 80. 900 tons for next years
delivery at about the rates noted above at
'.> is the lowest ut which business would
lie accepted considerable activity is pre-
GiciCd for the near future.
Heavy Ore Sales Reported.
Iron Ore-Wc learn of sales of various
sized lots up to date aggregating 3,750,OO0
tons at prices ranging from 81 30 to IS % per
ton FOR BcsSemcr grades taken from docks
at various points. This will wind up ore
sales 50 far a. Pittshurg is concerned. From
this it might be taken for granted that there
are Il number OF furnacemen who have con-
1idcncc in the future of the iron trade
The general situation may be summed up
as follows: Demand for most descriptions
active. spot BeSsemcr very scarce, being
hold at Il further advance. Gray forge
steady Mt last weeks prices. Steel slabs and
lillcts firm, transactions large; prices main
fanCd Muck bar shows no change: sales
lair Ecrro lnanganese--Dome firm; i'm
ported. weaker. S>eip iron-Prices declined
!. shade. Old rails abour hold their own,
Scrap material weaker
THE LATEST-Saies OF Bessemer touched the |
highest point for some time. Since Tuesday |
900 tons have been sold for Pittsburg and |
delivery at Sl6 l5dl6 80, delivered |
and not reported among our sales.
stocks OF pig for May were reduced 10000
tons. which occurred principally in the
burg district. Shcmungo and Mahoning val
levs The Southern districts, including Ken
tucky, Tennessee, Alabama and Georgia,
show an increase.