Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-20
BESSEMER In DEMAND
At Firm Prices and Mill Irons Steady
and Unchanged.
BILLETS FIRM BUT LESS ACTIVE.
Euckbsr Dull and Nominal and Structural
in Good lequest.
AN ACTIVE FALL TRADE PREDICTED

FRIDAY, Aug. 10.
The market for pig iron may be said to
have undergone no change, notwithstand-
ing the signing of the Amalgamated scale
by certain manufacturers, though prices are
weak, owing to further concessions by
Southern furnaces. There are some who
still decline to sign the scale unless a re-
duction is made on certain articles. Those
who seem to be aggrieved are still holding
meetings endeavoring to fix up matters
satisfactorily. The accumulation of pig
iron at certain furnaces, especially forge
descriptions, has stimulated the Southern
producers to make special efforts to supply
the wants of the mills that have and will go
into operation during the present month.
Notwithstanding tho low prices quoted,
however, buyers show 10 intention OF de-
parting from the usual custom of purchas-
ing only such material a. they require for
Immediate use. Even with tho close compe-
lition for business, and the lack OF frmness
on the part O, makers an increase in the de-
mand Tor finished forms of iron and steel is
confidently expected to have a beneficial et-
iecr on the market for crude material in the
near future.
tocks Large and Production Light.
While stocks at the furnaces are large the
rate of production is lower than at any pre-
vious time during the past two years. The
figures for the LIST of August show decrease
of g. furnaces in blast and reduction of
S3,947 tons in the weekly production. as CON-
lnred with the showing on the lst of JAN
nary. The present low prices, which, in
connection with the increased consumption
which will naturally follow, ought to create
entirely new sentiment.
Ii is too soon yet to form any very definite
opinion in regard to what may be done in
the immediate future, but st the same time
ii may be regarded as probable that bottom
prices have been reached and that an up
saf.nr fffNrn lS n1lN Of
time. Since the LIST of August our city fur
naces have sold over 20 0J0 tons of Bessemer
Tor delivery during the next 30 days. This
fact confirms the view noIed above that
bottom prices have been reached,
the buyers being among the best
informed manufacturers, who would
certainly not purchase so large an amount
Tor future delivery if they had the remotest
idea that prices would be lower. There is
certainly no risk i'll purchasing standard
Bessemer pig at sl4 and no persons are bet
ter aware of the tact than the parties who
have secured their fall supply.
Finish,d Material
New steel rails continue in moderate de-
mand and only small lots are wanted. The
schedule price, $50 ton f. O. b. at works, is
obtained where orders are placed, but the
total inquiry is small. Business in other
departments is very satisfactory. Mills
generally have a good deal of work on hand
aid a portion of it is being done Mt satisfac-
tory prices. a heavy demand is still met
with and there is little doubt that larger
sales could still be made il makers would |
make slight concessions, which they are not |
disposed to do. We hear of sales of steel !
beams at 2@2lc per lb; channels, l3l@2c; |
angles, I3z@l1sc.
In steel bIllets the demand has not been |
so active as the previous week. Still, taken |
as whole, a fair business was transacted |
and prices were main ntained for prompt de- |
livery. As many of the mills will be in sue
cessful operation the coming week, the gen.
eral impression is that there will be an
active market in the near future.