Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-19
BESSEMER IS ACTIVE
And Gray Forge Is Firm, With Prices
Tending Upward.
STEEL BILLETS FIRMLY HELD
And Structural Shapes Are Strong Under
an Improved Demand.
A PRETTY GOOD LIST OF SALES

FRIDAY, Nov. IS.
The outlook for the iron and steel trade
for the remainder of the year is good one.
The undertone of the market seems to be
gaining strength daily. There is no big
boom that is calculated to derange trade
and place false value on products. There
is decidedly better feeling among dealers
generally. The most marked features of
the movement are the scarcity of the best
brands of pig iron and the gradual tendency
to higher prices. There is little iron press
ing upon the market at present, and con-
sumers who formerly bought for immediate
requirements only are now taking rather
more than they need. The sales are quite
satisfactory in volume, and there is but lit
tie haggling about prices. Some makers
for certain brands are now obtain
ing 25@35 cents per ton over the
nominal quotations on new orders.
II the market holds steady for 80 days long
reports from the % Mahoning f q and shenango
valleys are very favorable for makers; the
demand has been active and sales Of Besse-
mer pig large, extending into the first quar-
ter of the new year. Prices have advanced
2o035 cents per ton above those that ruled
snort time ago.
Opinions of Oracles.
''Cold Short" sizes up the situation thus:
"a temperate but distinct improvement Is
developing to compensate the pig iron pro-
ducers for the long season of depression
they have had to submit to. and If this
change for the better is handled soberly
and not strained before it reaches healthy
DEVELOPMENT, it will gradually strengthen
and very probably endure throughout the
year. Haste to avail of all there is in this
new born and, therefore, immature and un-
certain opportunity, is exactly what should
be avoided. II there Is really any reason
for the change, and it has the proper degree
of strength behind and in it, enough of an
opportunity will be developed to reach all
round"
An Eastern dealer has this to say: "The
Western mills are close competitors for
plate and structural material, and a number
of orders from here have been taken by
Pittsburg works." The market is in excel
lent shape, and although there is u conStd-
cradle increase in the output there is no
weakening in prices. Stocks have been melt
ing away to the extent of about 20, 900 ton
per week, so there can be no question in re-
gard to consumption.
Temper of the Market.
In new steel rails the syndicates have
reduced the price at the mills to SIS per ton,
which was foreshadowed u week or SO ago.
The trade during the latter part of the
week showed up fairly well. Bessemer pig |
was in good demand and very firm, with
certain holders asking an advance. Gray |
forge firm and demand steadily increasing, |
two sales being reported ut 10 cents ad- |
vance. In steel billets the late advance was
maintained on liberal sales. SkeIp iron and |
steel show an increased demand, with prices |
unchanged Muck bar steady, but not very |
active; no change in values. Sheet bars
firm and in fair demand. Structural iron |
firm under an active demand. Steel beams, |
9 1-l0@2 2-10c; channels, 2@2 1-l0c; angles, |
l7GG2c; tees, 240@2. Soc: z bars, 2.O5@2 l5c; |
steel mill plates, L75@l soc. The following |
were the sales reported:
CoKE-sMELTED LAKE AND NATIVE ORES.