The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-03-03
Pic IRON MARKET
IS STILL INACTIVE
Consumers Holding Off in Ex-
peCtatjon of Lower Prices
COKE IN BETTER DEMAND
Iron Buyers Said to Be More Interested
In the Market Than They Care
to Admit-sltuatio GEN.
orally Satisfactory.
COKE IN BETTER DEMAND

The local iron market continues quiet.
One of the large furnace companies re-
ports sales at $145O on a No, basis, but
buyers, as a rule, are not disposed to
pay that price Consumers, in fact, are
holding off, hoping to supply their needs
at lower prices. Producers are not dis
posed to shade, believing. as they do. that
buyers will soon come actively into the
market.
Rogers, Brown & Co.'S Cincinnati re-
port for the current week says:
The beginning of spring witnesses mar
ket conditions of a thoroughly salts
factory character. Production and con-
sumption are proceeding at record rate,
the latter at figures which surprise even
the most sanguine followers of the iron
trade. 1t is daily more noticeable that
receipts of iron by consumers are going
directly into the melt, in some cases
direct from cars to cupolas, and continued
pressure is made on shippers for iron
on contract.
March l saw the advance in southern
freight rates of % cents a ton to points
north of the Ohio river, and for the last
two weeks the supply of cars at southern
furnace plants has been absolutely in
adequate to handle the requirements of
the trade. The difficulty met by furnaces
in making shipments has been due to
both the demands of most buyers for
quick shipment on account of their in
creased melt and the wish of others to
get iron before the rate advance. Both
have conspired to make the matter of
shipment from the south with anything
like satisfactory promptness practically
out of the question.
Inquiries and sales of small lots for
quick or early delivery continue in fair
volume
Coke is In much better demand and
prices in eastern and northern markets
show very perceptible stiffening; In
the case of Virginia fuel a slight advance.
The heavy snow In southern Ohio, Ken
lucky and West Virginia early in the
week will have tendency to clog the
manufacture and shipment of coke, which
so far during the winter have proceeded
with less hindrance than for many years.
Matthew Addy & Co.'S Cincinnati re-
port for the week follows:
February's record in the iron industry
was absolutely unique. In previous years
the weather has usually been so bad
as to cause a practical suspension of
work, but this year business went on at
a maximum rate without any noticeable
hindranee. March opens with everything
in full tilt. Production is enormous;
greater than ever before. Yet consump-
ton has more than kept pace with 1t,
and today in no section of the country
is there any accumulation of good iron.
On the contrary, the great majority of
the furnaces are behind hand on deliver
les on their contracts and are being
pressed to the utmost by consumers who
need iron faster than they are getting
it. In the actual working ends of the
business everything of a satisfactory
nature is happening to make the situation
thoroughly complete is purchasing on
large scale. That. however, was done
in the late fall and early winter and
will probably occur again in the early
spring. There are signs that buyers are
a good deal more interested in the mar
ket than they care to admit Several of
the largest consumers in the country are
quietly going over the situation, and the
chances are that they have been sur
prised to find how little iron there was
free to sell for shipment this side of
July.
AS far as actual business is concerned
the week has been precisely like its i'm
mediate predecessors in that there has
been a very regular steady buying with
out any SENSATIONAL features. There have
been several 500-ton lots, while 200. 100
and 5O-ten transactions have been numer-
Gus. At the present time inquiries are
under way for considerable quantities.
There are inquiries to exceed 5000 or 1000
tons of basic, and for several heavy
blocks of pipe iron.
The week in coke has been rather
quiet.