Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-16
IRON. TRADE REVIEW.
Steel Billets Firm and Improving
and Pig Prices Maintained.
A GOOD DEMAND FOR BESsEMER.
Gray Forge Firm but Inactive, With
Further Sales of Iron Ore.
SCRAP DULL, AND OLD RAILS FIRM
OFFICE OF The DISPATCH,

PITTsBURG, FRIDAY, July Is. 4
RAW IRON AND STEEL-Business dur
ing the week has been very much restricted,
sales confined to limited amounts principally
for use as mixtures. As matter of course,
large operations are not expected, as the
labor troubles for some time past have been
the principal theme under discussion.
The shutting down time, affording the
opportunity for finding out the results of
the last half years operations, is at hand.
and in many instances its occurrence will be
welcomed. Uncertainties are tlresome
when they are prolonged beyond stated
intervals, and no matter what may be the
degree of uncertainty a strain is produced
which but few men relish. AT present
trade is moving heavily. The present is
certainly the BUYERS opportunity, but he
seems TO be timid about taking advantage
of the same.
1t is not impossible that prices will go
lower, but it is certainly very improbable.
Many persons are of the opinion that there
will be no particular change before the fall
trade opens. There is old rule that adj
vises BUYERS to replenish stock, when pos
sible, at the lowest price ruling between sea-
prices are certain to stiffen just about the
beginning of spring and fall, and as has fire.
ouently been the case they generally retain
the stiffness then acquired until well into
the season.
Bessemer Is Down to Bedrock.
The consumer who lays in good stock of
standard Bessemer pig metal at $l4 056l4 25
does WELL and so does the purchaser of gray
forge at Sl2 10. The chances against his do
ing any better are not very promising, and
the risk he runs of not doing as weu by wait
ing is very great.
Various influences are working 1T present
to depress prices Surplus stocks. eXces
sive production and apprehension about the
result OF the annual disagreement about the
and forced prices down until they are really
at the bottom for some productions and be-
low Tor others: and the producer who can
not possibly hold his product for better
prices rather than give itaway, is shaky and
the day upon which his non-survival will be-
gin is not far off. A leading Eastern dealer
has this 10 say:
prices OF outside brands of pig iron are
weak and irregular, owing to the persist
ence with which the furnacemen force their
iron on an unwilling market. Many of the
Southern producers are especially anxious
to realize on current production, although
they are not alone liz this respect. Con-
tracts have been accepted Tor deliv-
cries running we'll up to the close
of the year at the present low prices-a
practical avowal on the part of such
furnaces that they look for no improve
ment in prices this year. On the other hand
makers OF standard brands will not make
contracts for the remainder of the year eX-
cept at prices fully 81 above those quoted
LATEsr-Bessener pig was steady with a
fair demand, the sales show up well and
prices well maintained. Billets sold freely at
prices ranging from S23 % to $24 90, accord
ing to time of delivery. Gray forge steady,
not very active; holders refuse to make con-
cessions. Muck bar dull, not wanted: prices
Irregular. Scrap material very dull; prices
are the lowest known for many years. Old
steel rails shade firmer.