Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-13
IRON TRADE REVIEW.
Prices Weak and Lower, With Sales
Failing Off in This Market.
IRON ORE ON THE DOWN GRADE.
an Outlook That Is Not Favorable for
Furnacemen.
CONDITION OF BUSINESS ELSEWHERE
IRON ORE ON THE DOWN GRADE.
CONDITION OF BUSINESS ELSEWHERE
OFFICE OF The DISPATCH,

OFFICE OF 1HE DISPATCH,
PTTTsBuRG, FRIDAY, February l2.
RAW IRON AND STEEL-The market
still fails to show anv improvement. Con-
sumers seem 10 have sufficient stock on
hand 10 meet current demands, and are dis
posed 10 ask concessions. While certain
sellers are inclined TO meet their views
Others prefer not to accept present rates,
contending that the present depression is
only temporary. The demand has been
smaller than usual with prices very unset
tied: still. with all the dullness and all the
pressure to sell. prices do not yield to any
serious extent. OF course the past week
has been the quietest of the year
and in some instances concessions of few
cents per ton were made and the sale of a
few thousand tons was the result of the
shading But after all the change in values
was very limited.
weakness and Irregulari'y in Prices,
Taking common-sense view of the mar
ket. the situation is bv no means very
alarming, particularly when the big sales
made since the first of the year are taken
into consideration. AT the same time the
point has certainly been reached when there
must be more business. less iron lower
u
holds to the idea that the first alternative
will bring them out safely in the near
future a well-irformed iron man has this TO
saw. The volume OF business is not up to
the capacity of the mills and furnaces, and,
as a result there is considerable weakness
and irregularitv in pri ,es As compared
with former years the amount of business
now being done shows no falling oil, but
there is such a large and continuous growth
in productive capacity that a very
large increase in consumption Is re
quired each wear to keep pace with
the output in different lines. The pres
ent consumption of pig iron is certainly
greater than ever before, but the increase In
production is even more marked so that the
Growth IL demand hardly keeps the market
steady According to all accounts an enor-
nous amount of work has been planned for
this wear by the railroads, builders and
manufacturers. and indications point to
very large aggregate of business for this
wear, although, apparently. 1t Will not be
verv evenly distributed through the year
The Market at the Close.
The Eastern papers comment very severe
" or the collapse of the structural iron
combination. A Piusburg firm is given the
credit OF breaking up the combination 1t
is now everyone for himself
Bessemer sales show decline. Gray
forge is weaker Steel slabs and billets in
some cases were shaded. Ferro manganese
is quoted at a decline Speigel lower Muck
bar weak. not Quotablv lower Steel beams
declined. Scrap material declined. Old
iron and steel rails-prices weak, uncertain;
Skelp iron-rrices maintained. New steel
Tails-saleS at works $50
IATEST-The market continues very dull;
prices weak and uncertain, but seemingly
10 he on the down grade. New steel rails
Orders small in tonnage and new business
in sight light. Iron ore-Nc sales reported
this week, tonnage appears large; prospects
favorable for the furnaces that have not
purchased their supply of ore for 1892 to
obtain it at the same prices paid during
1891.