Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-03-07
USE ALL At HOME
NO NEED OF FOREIGN MARKET
FOR IRON NOW.
THE BEST SALES ON RECORD,
Iron Trade in the Best of Condition
Great Demand All Over the
Country.

New York. March 7.-Discussing the
Iron Age says:
Evidence of the enormous home con-
sumption of this country is pouring in
from day to day and Is surprise, to the
most sangune. For the time being it
certainly disposes of the doubts, as to
the possible effect of a sharp decline
in our iron and steel export business. Q
Nothing has been heard as yet in re-
gard to this seasons ore prices. but APP
parently the trade has gone ahead with
little reference to what decision may
be finally reached. While the heavy
buying of pig iron for steel making pur-
poses seems to have exhausted itself,
the large consumers being covered. there
has been heavy trade in foundry prod
uct. The leading firms of pig iron mer-
chants report that their sales have av-
eraged close to ten thousand tons per
day lately. Not only the principal melt
ers of iron. like the cast iron shops and
the malleable iron founders. have been
contracting for delivery beyond the mid
die of the year, but the great mass of
small founders. too have been placing
orders. This applies more particularly
to all the leading interior markets. tide
water points having been relatively
quiet. Prices have advance from 75c to
81 per ton above the lowest point quietly
made early in February, and the market
closes firm.
The large steel concerns seem to have
turned to melting stock for a further
supply of raw material and a good deal
of activity is reported in scrap and in old
steel rails.
The steel market is still very bare and
premiums are quite generally paid for
prompt delivery over pool prices. 1t is
possible that the billet association may
this week decree that the tagging off
cial' prices catch up with the market
The tendency of prices in rolled steel
is distinctly upward. and if continued
may force the United States Steel cor
poration when it takes hold to face a
series of relatively high prices. There is
talk of lifting steel plates another 81 per
ton, and pipe has already gone up 21s
per cent.
The domestic consumption of finished
material continues extraordinary. AS an
example the fact may be quoted that
during February, short month, the
American Steel and Wire company re-
ceived specifications aggregating 16O-
0oO tons, the heaviest month in it's his
tory. Like information comes from the
plate mills, the structural shops, tho
sheet mills, and the bar mills. Our re-
ports from the various distributing mar
kets indicate that work is still coming
up in flow, so that improvement up
the middle of the year is we'll assured,
The spring trade this year is certainly
exceptionally active in all heavy lines.
We shall not, therefore, for some time
to come feel the decline in the export
trade in iron and steel. 1t is different
matter in the metals Present prices for
copper would be out of the question
were 1t not for the enormous home de-
mand. The outlook for consumption in
Europe is undoubtedly very blue in all
branches Of the metal trade.
This is shown, too, by the way in which
lead and spelter are acting in Europe.
1t Is of interest to note that the leading
pig lead producers here are negotiating
with independent producers to restrict
production, since stocks are getting
heavy.