Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-06-04
IRON TRADE REVIEW.
The Outlook Improving. With Besse-
mer Pig Sales Liberal.
GRAY FORGE PRICES MAINTAINED.
BUYERS or This Market for Good Blocks of
steel BilletS.
REPCRIS FROM ALL ALONG THE LINE
GRAY FORGE PRICES MAINTAINED.
REPORTS FROM ALL ALONG THE LINE
OFFICE OF THE DISPATCH,
Pr1,rSRnRG ER1nAY lime {


RAW IRoS AND STEEI.-Depression
still characterizes the market, but not to
the extent that prevailed at the date of
our last report There are certain excep-
tions; for instance, there are buyers in the
market for one or two big blocks of soft
steel billets that if consummated will make
good sized hole in 10000 tons. This in
dicates that leading consumers have made
up their minds that it is a good time to in
vest, and that prices are not expected to
rule below the present rates. Taking it all
around the undertone of the market is GER
tainly stronger while lead ing iron men e1-
press more confidence in the future. There
has been no decline in raw iron since our
last, while the demand is on the increase
for standard descriptions. 1t will be only
fair to presume that after stock-taking and
July repairs are completed the iron and
steel trade will show more activity and
better prices.
No Scale Trouble Expected.
The first matter of Importance for the
first of July will be arrangement of the
wage scale for the coming wear. 1t has
been developed that the puddlers in the
Amalgamated Association will insist on
new departure at the scale convention that
u
trusted the committee which will represent
them with full power to the pudding rate
for the coming year instead of again CON
ferring with the manu- sacturerS afteryard.
1t is altogether probable that a slight re-
duction in the matter of pudding will be
inSis' ed upon, owing to the low price and
depression in the iron trade. 1t is currently
reported that an amicable adjustment of
wages. with but little change, except in the
matter above referred to, is anticipated Il
result of the convention.
a well-inforned dealer he's this to say:
Enquiries are becoming more numerous
and sales show up reasonably well
and unsatist factory with no immedi-
ate indication OF anything better.
The market is in buyers favor, notwith-
standing the lact that current transactions
ARE in excess or those 4 short time ago, and
also that production has shown some de-
crease; factors which, under most ciTcum-
stancCS, would result in a stiffenng of prices.
While production is still in excess OF con-
SUMPTION the demand for iron and steel
products has not increased as rapidly the
capacity oi the works: IL is largely this dis
proportion between the demand and supply
that causes low prices and gloomy feelings
throughout the trade Although present
conditions are unSatis actory producers ap-
pear to have great confidence in the future.
Southern Iron Still Disturber.
Southern iron continues to be a disturb
ing factor and is pushing Northern competf-
tors in certain markets. 1t is reported that
the low offers made by some of the Southern
furnaces short time ago have been with
drawn, and there is not tie decentralization
in the quotations for the product of these
works ~ the present time"
\ sale of No. southern iron was reported
at Sl4 y, which. after deducting So l6
1or freight, allows of but Sll CO
Tor the producer at the furnace.
Northern iron men are unable to figure out
any profit sales at this price, but they
are not only made but a transaction at Sl4 is
even limited at. There is more doing in
lin shed iron, orders 2re beng received
more freely.
The LATEsT-Market closed with an i'm
proved demand for steel billets and Besse-
lucr pig, sales of the latter being the largest
1ur some weeks: in most cases previous
prices were maintained. The undertone of
the market is certainly stronger. Parties
who are well informed say that the middle
ot July Will witness an active iron market. !
Scrap material is dun: prices weak and nom- |
mal and holders anxious to unload. Old /
iron and steel rails dull but not quotably |
lower. Sllelp iron and steel was firm, with |
a good demand We are reported the follow |
ing sales: