The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1901-03-08
IRON AND STEEL TRADES.
Enormous Home Consumption Creates
Unusual Activity.

Unusual Activity.
NEW YORK. March 7,-DlscussIng
the condition OF the iron and steel
trades, the Iron Age says;
Evidence OF the enormous home con-
sumption OF this country is pouring in
from day to day and is a surprise
to the most Sauguine, For the time
being 1t certainly disposes OF the doubts
as to the possible effect OF sharp
decline in our iron and STEEL export
business,
Nothing has been beard as yet In
regard to this seasons ore prices but
apparently 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 purposes seems to have ex-
hausted itself, the large consumers be-
ing covered. there has been heavy trad
ing In foundry pig iron. The leading
firms Of pig iron merchants report that
their sales have averaged close to 10 .
600 tons per day lately.
Not only the principal meters OF
iron. like the cast iron shops ana the
malleable iron founders, have bsen con-
tracing for delivery beyond the mid
die OF the year but the great mass OF
small fn,,nHarS ,No ha,.A haa, ,Nl,N
ing orders. This applies more partiou-
larly to all the leading Interior mar
kets. tidewater points having been rela-
lively quiet. Prices have advanced from
IS cents to 81 per ton above tn low
est point quietly made early in Febru-
airy. and the market closes firm.
The large steel concerns seem to have
turned TO melting stock for further
supply Of raw material and 4 good
deal Of activity is reported in scrap
and in old steel rails. The steel mar
ket is s,il very bare. and premiums
are quite generally paid for prompt de-
livery over pool prices II is possible
that the billet association may this week
decree thIt he hgging Official prices
catch up with the market.
The tendency Of prices In rolled steel
is distinctly upward, and II continued
may force the United States Steel Cor
poration, when it takes hold, 70 face a
series cf relatively high prices There
is talk Of lifting steel plates aaother
s. per ton, and pipe has already gone
up 2l2 per cent.
The domestic consumption Of finished
material continues extraordinary, A.
an example the fact may BE- quoted
that during February. a short month
the American Steel and Wire Company
received specifications aggregating l6O,
800 tons, the heaviest month in its his
tory. Like Information comes from
the plate mills, ths structural shops,
the sheet mills. and the bar mills. Our
reports from the various distributing
markets indicate that work is still com
ing uD in a flow, so that employment
up to the middle of the year is well
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 ex-
port trade in iron and steel 1t is q
different matter in the metals Present
prices for copper would b. out Of the
question were it not for th= enormous
home demand. The outlook for con
sumption 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 Europ-
1t is Of interest TO note that the lead
ing pig lead producers here are nego-
t.ating with Independent producers to
restrict production. since stocks ar
getting heavy.