Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-08
BILLETS ARE LOWER,
But Nearly Everything Else Shows
a Strong Upward Tendency.
SCRAP FIRM AND ADVANCING
Structural Iron in Active Demand and
Father Firmly Held.
BOUNDARY IRON IN BETTER REQUEST

FRIDAY, OcE z.
| Trade in raw iron and steel has been rea-
sonably active this week, and for certain
descriptions the demand has been especially
good. The improved outlook in the iron
and steel industry continues to be fairly
maintained, although the change is not SO
much of a quotable character. Consumers
of the raw material are making more inquir-
les and are watching the market closer.
For certain brands of mill iron there is an
improved demand, holders being disposed
to ask an advance, and it is predicted that
the present month will see higher prices
At present makers are very careful about
accepting contracts for future delivery. On
the whole, producers find much that is en-
courag1ng in the present tone of the market
ana the general feeling Is one of confidence.
Indications of Higher Prices.
The action OF the leading Southern fur
mace companies in advancing their quota
tfons % cents per ton is looked upon as an
evidence OF the improved condition of the
market, and one likely to be followed by
other sections. Under ordinary circum-
stances the heavy consumption of pig iron
throughout the country, the decrease in the
output to point at least equal If not below
the amount consumed, the gradual melting
away OF the unsold stocks on the flrnace
and ioundries have only sufficient material
on hand to meet their Immediate wants are
ell factors that would Indicate higher prices
were only to be considered, prospects would
be brighter, as the consumption appears to
be taking care of the output on the present
basis, and in addition, reducing the accu-
mutation somewhat.
An Opinion From the East.
An Eastern dealer remarks: although
the market retains some of the unsatisfac-
tory features recently noted. there is much
that is encouraging and points that denote
marked Improvements But the situation is
not sufficiently settled to warrant very posi-
tive expressions in regard to the matter be-
yond saying that there are more strong
features than weak ones. General business
among consumers of iron is good, and so far
as can be seen is likely to remain SO for
have n full two months work In hand, so
that to complete this years business ac-
tivity it only requires orders for about four
weeks more work. Hence, 1t NAV be re-
garded as settled that prices are absolutely
safe for the remainder of 1892 for most de-
scriptions."
Current Temper of the Market.
In structural material the market is firm
with an active demand. The new buildings
under contract and projected Will require
the buildings are completed. Hold ers are 1
firm at last weeks prices. Bessemer is
steady, with current sales Sl3 70Ql4 90. In
gray forge the bulk OF the sales under
$12 50 some dealers are holding out for S12 IS.
Steel billets continue to be disposed of at
various rrices, the difference in values
reaching 81 per ton. Billets for future de-
ever reached in Pittsburg. Muck bar is
steady with demand light and holdings firm.
Scrap material is firm with the demand
steel rails are scarce and prices are firm.
Skelp iron and steel find ready buyers.