The sun., 1912-07-07
PRICES MAINTAINED
IN STEEL MARKET
Good Ordering Follows Last
Weeks Advance in Quota
tions on Products.
THE UNF1LLED TONNAGE
Steel Corporation Report for
June Expected to Show
Increase.

During tho last week there has been q
noticeable Increase In buying Of steel prod
ucts. and the total amount Of business
placed. even with the holiday out. would
compare favorabiy with the hrst week Of
June. II was unusually heavy for the
first week Of July. when steel ordering is
usually almost an " nknown quantity. A
large tonnage was placed with the United
states Steel Corporation. while the inde-
pendents were not neglected. but there
were very few details Of the orders given out
The untitled tonnage of the United States
Steel Corporation will be published on
Wednesday. July 10. for the amount of
business on the books June 20. IL is ex-
pected that there will be an increase OF
about 80 900 tons a. compared with the same
figures for May 81. The increase will he
largely due. II shown. to the ordering OF
the last week Of June During that period
there was . rush of buying by consumers
anxious 10 avoid the payment Of 81 a ton
for plates. bars and structural steel more
than prevailed for prices during June.
The new prices were 10 go into effect on
July I and 20 all orders booked during the
last week Of June wer~ Al the lower rate
While business during the first three week 8
Of the month was good. there were such
heavy shipments that decrease in unified
tonnage would have been the result for
the month but for the last weeks incoming
business. This buying and the largo total
Of orders for tho nrst week Of July have
made the new price schedules firmly hxed
and indicate that higher prices will be
maintained even II there IL . falling on Il
business during the summer.
The advance In plases. bars end struc.
turals will greatly benefit the Steel Cor.
porations earning. as II will those Of the
independents. IS the corporation IA pro.
ducinR more steel than in 1911. when there
were go. 500 tons Of plates. $4,000 tons
Of structurals. and i.3?i .eos tons Of bars
skelp. &c. produced. In 1910 produc.
tion In these itcms ran o2a.ooo tons OF plates
e5s Am tons Of structurals and i.5o, .50s
tons Of bars. &c Production so far in
1912 is in excess OF the average for either
Of these years and will be the larSeat in the
Steel Corporations history.
The earnings Of tho Steel Corporal tion
for the second quarter OF the current year
will be published on July 70
The increase In prices puts the main stee
products at about the same basis AZ a yeai
ago. for. while N per ton higher quota
tions prevailed then than now. at preren,
prices are firm. while q year ago there va,
a tendency throughout tho steel industry
to shade or cut prices. The average price
Of eight leading iron and steel products
10 now about - Der ton higher than the
extreme low Of 1911. which was the lowes,
In eleven years. The average price ol
these eight products 10 now sss.s3 per tor
as compared with $50 20 At the low during
1911 and 81. .OS average price during 1911
The highest average recently VAS in 1907
when IL was $40 - for the eight products
or 81 10 higher than present quotations.
Even with the recent advances prices arr
! far from normal. probably about 81. 50 pel
ton below what steel companies woulc
, consider = satisfactory permanent rate
Hence. II the demand for steel continue.
through July there may be another advance
made in August