Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-06-11
IRON TRADE REVIEW.
A Big and Peculiar Transaction Re-
ported in BesSemer.
STEEL BILLETS FIRM AND HIGHER.
The Demand for Skelp Iron and Steel in
This Market Increasing.
REPORTS FROM ALL THE DISTRICTS
OFFICE OF THE DISPATCH.
PITTsBURG, FRIDAY, June 10.

PITTsBURG, FRIDAY, June 10. {
RAW IRON AND STEEL-"Waitr' That's
the word most used when you inquire how
the iron market is. "Wait until after the
iron scale is satisfactorily arranged and the
necessary repairs to the mills have been
completed" Well, as that part of the
business is something that we don't con-
troll, we have TO be satisfied with the answer
and wait. The condition of the pig iron
market has not been as satisfactory as it
might be. Yet there are evident signs of
Improvement. We said last week that
prices for standard descriptions had evil
IDENTIFY touched bottom; that there is a
stronger and better undercurrent. We see
nothing in the market since to change that
opinion. The sales of Bessemer pig during
the mast ten days have been large for the sea-
son, and there is still good inquiry. Parties
who require that description of iron are
beginning to realize that delays
may he dangerous. A Valley furnace
man informed US that he had
standing offer for all the Bessemer
lie could make from now until the lst of
January at sl4 25 cash. which he refused to
accept-it is Still open. The June price of
Br~semer for the past five wears was: l>SS,
Sl7 25; lss9 So So $780, SIG so; 1ss SIS IS; 1892
Sl4 p. The difference between highest and
lowest, $40 25 per ton.
advice That Is Timely.
A leading iron dealer who has "crossed the
dark river" after making large fortune,
gave this advice: when you can purchase
pig iron below the cost of production, if you
have the money, buy it. l have done for
years and made money" Another iron man,
whose furnaces are running exclusively on
Bessemer, said: I'VE have sold no iron for
some time; are piling it up and will keep
il until we can obtain better prices"
STEEL BILLETS-TEe increased inquiry
noted in our last has been maintained;
holders ask an advance and are refusing to
sell at last weeks figures. The June price
Of steel hilleis the past five years was: 1855,
SO 25; lSS So IS: 1890 s26 90; 1891 s25 co. 1892,
So so. Difference between highest and
lowest. Slt IS Gray forge pig: 1883. Sl5 80;
1882 sl7 IS: 1890 S4 %: 1891 Sl3 Is; 1882 Sl2 IS.
Difference betweeh highest and lowest SIS 90
SlG5 o.: 1890. sos so: 1891, s63 90: 1892 s62 so.
Difference between extreme prices, S5l 90
per ton.
Better Demand in Certain Lines.
An Eastern dealer has this to say: For
certain kinds of iron more active demand
was reported, but that the feeling is one of
extreme dependency cannot he denied.
Prices remain at the lowest until new fg-
ures are made on still lower SCALE such
thing as an advance under present condi-
tions being almost beyond serious consider
alton. The trade recognize the fact that
supply and demand need closer attention
other things viii readily adjust themselves.
This feature will doubtless be very thor
Onghly looked into within the next thirty
days, and il Is not too much to say that
some steps will be taken to place matters on
4 better footing than they nave been Tor the
past SIX months. This applies to every de-
parUment of trade"
The great and important question to be
settled i. viii there be strike? From all
that can be learned il looks that way. Iron
men say that last years prices are not to
be thought Of. On the other hand the new
scale viii ask an advance in some cases.
A Peculiar Transaction Closed.
one Of our large iron firms purchased So
OOO tons Bessemer pig Tor this years de-
livery, payable in BesSemer ore and Con-
nellsviile coke. Values in both instance.
Will be governed by prices ruling at the time
% the various deliveries. This Is the largest
sale OF Bessemer ore ever reported. In 1880
the Cambria Iron Works purchased 60 900 |
tons o! BeSsemer from various furnaces, but |
tie sale WAS never reported. Estimating |
BcsSCmcr at SH 25 the value OF the deal /
reaches s1l2, 800.
THE LATEsT-There was an increased de- |
maud for steel billets; prices advanced to |
~ ~ 4 shade nrmer, holders asking for more |
money. BesSemer was firm and more in 4
gulred Tor: number OF blocks were dis |
POSED Of The principal drawback at pres
cut is the opinion that prevails that there |
viii be q stubborn fight on next years SCALE |
Until that matter is satisfactorily arranged |
business to a certain extent will be neg
lrctcd. The sales show up airly well. Gray |
Jorge was steady, previous prices being |
maintained.
STANDARD BESsEMER ORES.
q, ,509 tons june shipment Bessemer ore
J. y. o. cleveland. ........-S 90 cash |
COkE-sMELTED LAKE AND NATIVE ORES. |