The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-06-05
Pic IRON MARKET
CONTINUES STRONG
There Has Been Heavy Selling
in Birmingham
LOW GRADES ARE SCARCE
Some Large Furnace Companies Here
About oversoId at SIP Quotation.
Iron Is Now Bringing $3.50.
Feeling Is Good. :"
LOW GRADES ARE SCARCE

The pig iron market continues strong,
the Birmingham quotations being $12QD
L. 80 on a No. basis. Considerable ton
mage has been contracted for this week,
but selling is not so heavy as 1t was
during the latter part of May. for the
reason that several of the large furnace
companies have sold about all they care
to sell at $12 Small tonnage Is now be-
ing taken at $3.50 and it is reported
that some sales have been made at even
$13.
The cast pipe companies have led in
the present buying movement, but other
meters have also been quite active.
The railroads are hauling away iron
from the Birmingham district at a pretty
good rate, and the pig metal already sold
will give the roads a large volume Of
traffic all summer
There is a decided scarcity of low
grade iron in Alabama No. foundry and
gray forge.
Rogers, Brown &c Co.'S Cincinnati re-
port for the current week says:
Activity in the iron market is still
pronounced; both inquiries and sales are
in excellent volume Following the lead
of the larger consumers, smaller meters
are buying freely and seem to be con-
WINGED that their best interests will ne
served by purchasing for as far ahead
as they can figure out their required con-
sumption. There is a much better feel
ing and prices are frmer this week
than they were last.
Consumption of iron is keeping up well,
and even the companies manufacturing
railroad supplies taking on some
what more cheerful aspect, although any
business for the railroads aside from
rails is not yet of marked volume. Some
large rail business has been placed and
this has had it's favorable effect
Most of the deliveries contracted for
run through the third quarter, but there
have been a fair number of contracts
taken for delivery during the balance of
the year, although at the present time
furnaces are somewhat backward in
making quotations so far ahead. The
advance in price on southern iron has re-
suited in putting them more on a parity
with the northern furnaces, and the re-
suit has been that good business has been
tdhtu ny uOllutIn pliulSs dllHOuBH lHtiG
has been a considerable range in prices
various northern brands. a
Change in furnace stocks during May
was so slight as to be practically neg
ligible and consumption kept up with 4
gradual increase, which has been in eff
feet for several months. The bulk of
plants through the middle west that were
running 80 per cent of their capacity in
March are now running from 80 to 90
per cent, and this ratio of increase is
believed to be real. and is expected will
continue. Manufacturers in most lines
are figuring on good business from now
on, provided some unforeseen contingency
does not arise. This has resulted in their
placing orders at present prices for every
pound of iron they can figure for con-
sumption during the longest possible pc
riod ahead.
Coke has frightened along with pig
iron, and while there is no increase in
production prices are steadier and de-
mand is greater Shipments were better
and indications are that there will be
some excellent contracting during this
month. There have been some good fur
mace coke contracts closed, and altogether
the report on this branch of the business
is very much more encouraging.