The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-02-14
PIC IRON MARKET
GENERALLY QUIET
Blast Furnaces Not Working
We'll CurtaiIs Output
EXPORTS $4,000 TONS RAIL
Price Realized Nets Mill More Than Is
Being Obtained for Domestic
Eusiness-NeW Orleans
Buys Water Pipe.

Cleveland, o.. February 18.-(speclal3-
The Iron Trade Review tomorrow will
say:
Interest still centers in the pig iron
market, but the Indications of lower
prices on pig iron are closely connected
with conditions in finished lines, in spite
Of the present great activity of the mills,
leading manufacturing interests are
firmly of the opinion that further adj
vances in finished products will decrease
consumption and call a halt on pros
perity The effect of this influence is
clearly shown in the positive stand of
leading steel makers, especially in the
central west, against further purchasing
of Bessemer and basic iron, unless the
price is reduced to about $40. Steel makers
declare that they cannot dispose of their
product at a profit at prevailing prices
Of pig iron, and that there is no pros
pect of the price of crude steel being adj
vanced. Valley interests have sold prac-
tically no steel making iron for the last
half of the year, and a fair tonnage for
second quarter is still to be disposed
of. The furnaces are not inclined at
present to accept offers of $40 for their
iron and are willing to await develop
ments. In spite of the fact that some
interests will not make concessions there
is a great tendency toward lower prices
in pig iron due to sos~le extent, to the
persistent and determined efforts of buy
ers to break the market. The position of
the leading producers In the south IS
strong and sales have recently been made
at $3.50 for No. 2, Birmingham, for last
half of the year. but SIS is now freely
taken for desirable business. some con-
cessions are also being made by north
ern furnaces.
New York, February 13.-The Iron Age
tomorrow will say:
The blast furnaces have not been work
ing well lately and the output has not
been as large as it should be. During
January the production of coke and an
thracite pig iron amounted to 2,nOo.40I
gross tons as compared with 2.2So.3O6 tons
in December. The merchant furnaces
held their own. 1t Is interesting TO note
that three new stacks were added to
the number during January. February en-
tered with an active furnace capacity
of 492359 tons per week as compared with
507 1922 tons this week on January l.
Prices for spot iron are lower in the
south and $21 for No. foundry. Birming-
ham has none.
The pig iron markets are quiet through
out the country with little pressure to
sell, and very little anxiety to buy.
The announcement has just been made
that the contract for $4,000 tons of water
pipe for New Orleans has been let on
the basis of $33 per net ton for the 1907
and 1872 for the 1908 delivery This shows
that the fears were not justified that
present high prices for material might
cause the closing of contracts for next
years part of the work to be post
poned
In the steel rail trade an interesting
event has been the sale for export of
n lot of $1,000 tons of S0-pound rails for
delivery during the second half OF this
year.
1t IS worthy of special mention that
the price realized for these rails nets
the mill more than is being obtained
for domestic business. There has also been
sold for shipment to Bolivia one lot OF
GOO tons For the same railroad there has
Just been placed a very large number
of bridges, the total tonnage being esu-
mated at between 1900 and 2vJ0 tons.
From the plate, bar, sheet tin plate. tube
and wire mills comes the story Of a rush
of specifications on old orders and OF new
orders. Among the larger contracts re-
Gently closed with tube mills is one for
400 miles of pipe for the Southern racine
for a new oil line in California.