Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-06
IRON TRADE REVIEW.
The Good Time Is Still Slow in Put
ting in an Appearance.
VOLUME OF SALES FALLING OFF.
New Steel Rails Quiet and Unchanged and
Iron Ore Prices Cut.
REPORTS FROM ALL THE IRON CENTEIS
OFFICE OF TIRE DISPATCH,


RAW Iron AND Street.-The iron and
steel trade shows no improvement, COM
pared with the preceding week, but rather
the reverse. Prices for most descrip-
iions are lower. Consumers seem to have
q sufficient stock on hand and are evidently
disposed to wait and take the chances of
the market for their next supply. In an
other part of this report will be found the
January sales of raw iron, which reaches
the aggregate of 1896 tons, the largest
sales for that month on record, exceeding
January last year sS,93S tons From this
it can be perceived that consumers are GER
tainlv in a pretty good condition to hold off
ct least for a time. Under these circurn-
stances the outlook is certainly not very
favorable one, as nothing of an encouraging
nature can be said of the iron trade at
present.
Phenomenal Production of Pig.
Since our last report there has been a
general slackening of trade and prices have
been perceptibly weakened, while the pro-
duction of pig iron still continues at a phe-
nomensl rate The demand is falling a
little behind, and there are more sellers than
BUYERS rot only of pig iron but also in every
other branch Of the trade. At the same
time this condition of affairs cannot last
long; the stock of raw iron in the hands of
consumers, at the present rate of consump-
tion, will soon be exhausted, when they
will find it again necessary to enter the
market for a supply of material to keep
their mills in operation. Stocks of unsold
iron are growing gradually, although the ag-
gregate OF the surplus is still small in COM
parison with the great consumption. 1t
must not be imagined that the consumption
of iron and steel is decreasing, for the con-.
trary is the fact; but the great increase in
productive capacity during recent years has
been rather in excess of the consumptive de-
mand for product.
STEEL RAILS-The Louisville and Nash
vile Railroad has placed an order for 5000
tons rails with Carnegie Bros. & Co., the
price being $50 at the works. An order for
the same amount from the same parties
was placed with the Cambria Iron Com
pany.
The President of a prominent Southern
mill saws: Il was in Pittsburg few days
ago, and in conversation with the manager
of one of the most prominent iron works
there he told me that the business has sud-
denly sprung into great activity, and for the
last ten DAYS orders have been pouring in,
giving them all they can do for months to
come.
An Eastern Firm Meets Competition.
The Thomas Pig Iron Company, one of
the largest Eastern producers, announces
reduction of 50 cents per ton on foundry
grades, but this merely signifies meeting
figures named by competitors for some time
past The Eastern prices are: No. / foun-
dry, S17 0O@17 50; No. . foundry, SIG O0@
is p; mill iron, S13 50914 80; these rates
from 81 to 81 % per ton above Pittsburg
prices. \ Philadelphia paper says Pitts
burg mill has secured an order for 9, 500
tons of ship plates for San Francisco at 81 S.
at mill.
THE LATEST-Prices continue very weak
although sales show no particular change
Certain city furnaces are not offering, pre-
ferring TO wait for better prices, having an
abiding faith that they Will not have to
wait long.
Iron ORE-No new sales of Bessemer
iron ore for 1892 have been made since our |
last, but prices are weaker and offers are
being made at 10 to Is cents per ton above
last wears prices Muck bar dull and very
much neglected. Billets and slabs are
weak and prices uncertain. Bessemer sold
at various prices. Gray forge shows no de-
cline from last week. Scrap material is
dull and prices irregular. Old iron and
steel rails are weak, sales restricted and
prices governed by circumstances. The fol-
lowing sales are reported: