The Birmingham age-herald., 1908-02-22
.P|G IRON PRICES
 CONTINUE STRONG Months Tonnage VIII Make a Fairly Coed Showing BRISK MARKET EXPECTED Business In Cast Pipe Is Reported Active-several Contracts Let For
 This Glass of Material.
 Demand For Coke.
BRISK MARKET EXPECTED

The Birmingham pig iron market has been somewhat more active this week. than it was early in the month. but iron makers expect to see buying more brisk within the next week or two. No large sales are reported but shall lots are numerous enough 10 make fairly good tonnage showing for February. Prices are firm around $1S and $1S.50 on a No. 2 foundry basis.
 Rogers, Brown & Co.'s Cincinnati
 circular for the current week fol- lows:
 Market conditions generally continue quiet with only here and there a ripple more than usual to indicate that forces are still working to bring about a change. Such change. when it comes, 1t is felt, will be for marked improve ment, and it is figured will probably
 come with considerable rapidity. Steady
 business for prompt shipment keeps up
 well in increasing volume Stocks on
 consumers yards Ire being used and
 the frequent purchases in small quan-
 tity for immediate delivery show the
 condition now existing with many. | There is no change in prices of any consequence, and, as has been the case for so long, every inquiry of any size
 is considered a case by itself and is
 acted on specially by furnaces It is true that there is more of a firming
 up in the market than for some time
 and there is much more general au-
 thority with less range in price than
 in six weeks past. Some large buyers
 during the last week have been in the
 market and good proportion of their
 orders were placed at prices mutually ! satisfactory, although in many in
 stances there was considerable varia-
 tion in the quotations made. Business in cast iron pipe has been
 quite active and there have been sev- l eral contracts let for this class of ma terial.
 It is a satisfaction to note the re- port of domestic exports during last month, showing a total of SIPS, ,000, 900, I which is the highest record for Jan | uary, and exceeds last year by over 1 $17,000000. It Is a satisfaction that
 when internal commerce is at low ebb we can turn to foreign shores and get prices relatively high for an in- creased line of exports.
 | Coke is in fair demand and the sup | ply is about the same. There has been | quite a good bit of tonnage placed on | years contracts in both foundry and | furnace grades, but prices are ruling | low and many consummers consider | that it is to tn cir advantage to close for a long time at present figures if
 ovens can be prevailed upon to accept | the business. This feeling, and not present consumption has been primar- | fly responsible for the business done. | Matthew, Addy & Co.'s Cincinnati re- | port says:
 Because there is nothing sensational | in the pig iron market it is not to be | taken for granted that nothing is do- | ing. On the contrary. there is con | siderable activity in a minor way. It 1 must be remembered that not to ex | ceed 50 per cent of the furnace capac- | ity of the country is in blast, and so l far not only ready market has been | found for the iron that is actually be- l ing made, but there is considerable in | terest in the future on the part of | large consumers And without doubt more and more iron is being melted.
 The leading interest in the market ] has been enabled to hold many forms of finished goods at firm price. For | example prices on rail neither went up during the boom nor have come down since the panic.
 | Pig iron, however, has been following | the natural laws of supply an ddemand. l and it can be bought now at price | which Is practically the cost of pro- | duction. Certainly there Is no mar | gin of profit and no margin for the | unexpected contingencies which always arise in all manufacturing. It is not !, strange, therefore, that some of the 1 largest users of iron in the country, who have long made it a practice to | buy heavily for forward shipment when pig iron was low should be be- ginning to sit up and take notice. There are several large negotiations now un- der way. Of course the buyers are at 1 tempting to beat prices down below any possible figure at which the iron could | be sold unless the furnaces are willing | to make a heavy loss, but the inquiries l in themselves are significant of the | fact that demand is reviving.