Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-23
IRON TRADE REVIEW.
Less Activity Causes Depression in
Certain Circles.
CITY FURNACES STICK TO PRICES.
Consumers Inclined to Wait and Take the
Market Chances.
HOW THINGS LOOK AT OTHER POINTS
OFFICE OF THE DISPATCH,
PrTrsBURG, FRIDAY, January -. {

OFFICE OF THE DISPATCH, !
PITrsBURG, FRIDAY, January ..
RAW IRON AND STEEL-BuSiness dur
ing the week was not as active as the pre-
cedir- one Consumers are evidently pretty
well supplied with material, as cain be easily
sscsr;a;ned by reference TO the large sales
ncaed since January 1. There is evidently
q difference of opinion among dealers as to
whether the market is better or worse.
While it is certainly no better it would at
the same time be unfair to say it is worse,
although some people are so disappointed
thai thew are almost ready TO declare that
matters are orse than they were last week.
More pig iron has been made during the
pSst three months than ever before in the
same time, vet, all things considered, a fair
amount OF sales are reported, principally for
later deliveries There we're seven more
furnaces at work on the 1st OF January than
December l, bar he weekly output remains
about the sauie-1SS. 0S2 gross tons. There
is not enough unsoid iron on hard, how
ever, to cause any disturbance of tie market,
aud ii weuld take only small increase in
the demand to wipe out all the surplus.
Esa5irs Towzrsi Better Prices.
A well-iaformed Eastern dealer has this
TO say: Prices remain about the same, but
there is strong feeling and the market
appears 20 be heading toward better figures
than have bean realized for some time.
- 5hern iron Is moving actively in the
Western markets and good deal of it is
finding its way along the Eastern seaboard
in competition with Northern iron. Cur
rent husincss is largely in small quantities
fer early delivery, but there is more inquiry
for prices for delivery three or four months
ieuca"
The srm and substance of the whole mat
ter i That while business has not improved
~ d-ci6af!v as WAS expected neither has it
fallen 81, nor has snythipg occurred 20
modify the favorable anticipation previously
CNprsssea, unless On the principle that
nope deferred maketh the heart sick"
While consumers have fair stock pur-
CHASED, at the present rate of consumption
tie time is not fa- off when their supplies
viii need rerlenishing. Furnaces in this
city and vicinity being we'll sold up are no:
disposed TO accept decline, and as a gen.
Cral thing are holding out for previous
rrires. The valley furnaces are reported
well sold up. and are running 10 their full
canacitv. prices being well maintained for
spot and later deliveries. New steel rails
continue steady with sales at the works at
$50. Muck bar dull and neglected; prices
weak but not lower. Steel slabs and bill
lc-s are in moderate demand: the rate, S2J
per ton, previously agreed on st makers
mill, has been maintained. Bessemer pig
not so firm, last weeks prices being shaded
in some instances, Grar forge weaker; We
learn of sales 5(G10c below last week; on
the other hand, certain dealers refuse to
make any concessions in crder to effect
sales. Steel wire rods have declined 50(9
15c per ton. Scrap material dull and
lower.
Tho Close Weak and Lower.
THE LATEsT-The market closed weak
with sales of certain grades trife lower.
Consumers have evidently sufficient stock
on hand and under contract to last for 4
short time, and under the circumstances are
disposed to wait, expecting prices to de-
cline. On the other hand, owners of favorite
brands refuse to accept lower prices, and
are, so to speak, out Of the market. In this
repor; will be found tie largest sale of iron
ore made the present year. Steel rails in
fair demand prices at The works. $50.