Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-08
IN PITTSBURG'S HANDS
Rests the Price Fluctuati0n of Pig
Iron at the Present Time.
10 MOVEMENT IN THE MARKET.
Sales of Steel Tails Not Likely to Cause
MUch Excitement.
70 MOVEMENT IN THE MARKET.
TEE FOREIGN MARKET EQUALLY DULL

rs-rCrkI TELEGRAM TO THE pIsPATcH.l
Nrw YORK. Jan. THE Iron AGE will
tomorrow review the metal markets as
follows:
american Pig-As yet no movement OF
any consequence has taken place in the
market There seems, to he less pressure TO
sell Bessemer and special irons, on account
of the reported advance in Pittsburg. That
advance does not, however, appear to be
thoroughly esta blished vet, since SIS has
been named within three days. when the
parties negotiating came down to close
business. Southern iron continues
Irregular, with pressure to sell. We
quote Northern brands: SIG 75dlS 90 for
No /: Sl6 oc6l6 30 for No. ., and Sl4 o0@l4 &c
70, gray forge. Southern iron sells at
sl6dl7 tor No /: SIS 256l6 o. for No2 ana
SIS -5dll 30 FOR gray forge. The production
of coke iron, including the stacks so grouped
by Us in our monthly reports, was $500, ,0CO
tons: that OF anthracite pig, 900 tons, and
ot charcoal, 250.0O0 tons, making total OF
1 655 600 gross tons, or, roughly, 100000 net
rouS-the net ton being unfortunately used
bv some StatiSticianS.
Spiegeleisen and Ferro Manganese-There
= no movement whatever in foreign spiegel-
ciScn. while in foreign ferro the market is
at a 'andstill. Importers cannot meet the
prices being made in the West by domestic
manufacturers. who take all the business in
quantity of ferro. Importers claim that
they cannot do better than s62 00EI62 80 for
1crro S23 0aI23 30 for 10 and L per cent and
S26 1927 90 for 20 per cent.
The Pittsburg Advance Not General
Billets and Rods-It is reported that con-
siderable sales have been made in Philadel-
phia territory, " hile little has been closed
in this vicinity The Pittsburg advance
does not seem to be general with the pro
ducers of that district. When it is a question
OF rea ching into Eastern competitive terri.
tory there is some disposition to make old
prices. We learn that S24 has been shaded
rs u quotation on orders emanat1ng outside
the Pittsburg district. Foreign billets are
duli at nominailv $50 7563l O0. and American:
wire rods are So OO6S7 30 tidewauer NOM
inIlly
steel Rails-Since the placing of the New
York Central order alluded to in our last
issue, there have been no sales of any mag
niude. Among the smaller current trans
actions we note a lot of ], 500 tons for a Flor
ida road. Some very surprising blunders
have been made by the Engineering and Mn
iFlg Journal in Il reference to the statistics of
steel rail trade. Our contemporary states that
the production in 1890 was !, ,095 996 tons, when,
as a matter of fact, it was lSS5. .307 gross tons
In that year. The same statistician places
The production of 1891 at 1850 900 tons, in
Ignorance of the fact that the shipments,
rs reported by the association, cover only
rails OF standard section. Up to July / of
last year the shipments were 454, 423 tons.
Swank. of the first half year, reported rail
product of 5l,1sS gross tons. This is mat
Ter with which every one in the rail trade is
thoroughly familiar. The light rail output
carries tie product up to at least D., 600
tons. The falling off in product was there
lore only $4,000 tons, and not n round mil
lion, as our contemporary puts it.
little Doing in Manufactured Material
Manufactured Iron and Steel-Aside from
The sale OF a lot of 800 tons of beams for the
Lincoln deposit building, no transactions of
consequence have been reported in structu-
Tal material. the mills and merchants gener-
ally reporting the trade very dull The fig
UreS for the production of American beams
are not yet available, the reports not having
been received as yet. An excellent author
ity estimates the total at 100 00) net tons
which l. less than is generally figured, and
l. ~;tld to be due to the untavorable charac-
Ter of the general condition OF business las
year. In plates some low figures are being
made on high grade locomotive
1irebox steel We duote-Angles La0@2 l0c:
SEcared plates, LS5T2. .25c: tees, 2.s062 75c. and
beams and channels, Sic on dock. Steel
plates are l962lc for tank: 2.l56O2.30c for
shell: 24Od265e for fianre: 2.60@2.75c for ma
rine, "rG .@S25c for fireboN on dock. Bars
are L16l.9c on dock. Scrap axles are Qnota-
ble AT 262 .2Oc delivered. steel axles, 2M2 &C.
and links and pins, 2.lG2 2Oc; steel hoops, L95
G2G5c delivered.
Merchant Steel-We quote hot-rolled shaft
ln-. 1852 l9c: machinery 20562. .15c; tire,
> -OtE2 25c, and toe-caIk, 2.l5d2 25c delivered.
Review cf The Foreign Markets.
The fol eign markets are reviewed as fol-
lows by cable from London: Warrants have
undergone very little change. Dealings in
scotch have been small, and chiefly at AS;
these i'll Cleveland moderate at an average
oi -, and hematite fair at decline to ASS
Outside interest is extremely tame and
shows no reaction from holiday inactivity
scotch iron statistics show the production
LAST year 64i25 tons. a decrease of l23 gOS
IONS: exports. 3i3 3 tons, a decrease of l4O-
20 tons: stocks, 579,6m tons. decrease
lematiIe market decreased 1880
tons. and the East coast III s53
tons. Cleveland production, ordinary iron,
decreased i6l04 tens, but stocks increa sed
665i tons. Falling of in production attribu-
ted to l0WneSS OF prices. Pig iron, for
premium over 1utures. owing, it is stated, to
purchases by leading operators. Subsequent
real lfZaiiuEs by some holders caused reac-
IiCn oi AS Statistics show an increase of 64
le!e. straits shipments hence last month
were !. Geo tons
In the price Of merchant bar copper there
has been a rise to ca IS Cd for prompt de-
livery, followed by reaction of about 15S.
The stronger tone and advance in price
were due partly to speculative buying, some
81 which Is said to have been Tor account of
i rchch Clique, nut good consumptiye de-
-!.iru helped the market The decline dur
lll- the last few days was due to somewhat
heavy rea!izatiOnS by speculative holders.
Sales OF furnace naterial during the past
lortnlght lnclude 2O0 tons Montana matte at
- per unit. The visible supply decreased
- tons and spot stocks $40 tons last month.
There has been more inquiry TOR tin plate,
chiefly rom san Francisco, without much
actual business resulting. Ternes and lower
gisde charcoals are in rather better re-
quest.