The Birmingham age-herald., 1913-11-20
PIG IRON PRICES
TEND DOWNWARD
Some Sales at Cost to Keep
Furnaces Busy
WORKERS REDUCED
Slowing Down in Iron and Steel Op-
erations Continues-Railroad Buy
ing Not mproved-Stand-
ard Oil Places Order

oiefhdf O-p NONenDef IJ.-iSOeclal.1 30
The Iron Trade Review tomorrow Will
say:
steadily diminishing demand for iron
and steel products has resulted in still
further curtailment of products, and many
employers are compelled to reduce their
working forces, but are planning to keep
as many as possible employed through
unless conditions. become very much worse
than they are at present.
All evidence points to the fact that
stocks are low and that nothing is being
done to replenish them. Hence it seems
certain that when general conditions i'm
prove there will be very active demand
for prompt delivery of all kinds of ma
terials. Some pig iron sellers are show
ing considerable nerve in resisting the at
tempt of cast iron pipemakers to place
orders for pig iron at low figures.
The making of contract for 1900 tons
per month of furnace coke for delivery in
the first six months of next year at 81. Is
ovens shows that the market is some
what stronger than generally consid-
cred. On spot furnace coke, however,
as low as H.75 ovens has been made.
Shortage of coke at lake furnaces, due
to the storm last week, continued only a.
few days.
The United States Cast Iron Pipe and
Foundry company is actively negotiating
for pig iron up to 5000 tons for different
plants. and 1t is expected to take $1,000
tons.
The report that the pipe company pur-
chased 10000 tons from the Tennessee COM
pany is officially denied by the latter,
and doubt Is expressed as to whether the
iron was purchased from other COM
panies. The southern situation seems to
be somewhat weaker and prices in south
ern Ohio are irregular. There is some
unsteadiness In other parts of the coun-
try on account of the extremely light de-
mand, but for the most part quotations
are, pretty we'll maintained, and many fur
naces will undoubtedly blow out rather
than sell at lower prices.
Shading continues on sheets and plates,
although 1.30 Pittsburg is frequently OBJ
tained on plates. quotations of 1.26 east
ern Pennsylvania mill, which figures un-
der 1.20 Pittsburg base, is reported to have
been made on lot of 100 tons, mostly
plates for Baltimore shipment. This busi-
ness went to Pittsburg mill. The sheet
market is irregular and as low as 190
has been made on No. % black, while
8 on galvanized No. rs has also been
shaded.
Agricultural implement makers In the
central west are specifying very slowly,
evidently with the hope of having prices
on contracts reduced. The ordinary quo
tation on steel bars is 1.30 Pittsburg. Bar
iron is weak, and especially in Chicago
and some eastern centers, and mills are
running tntermittently.
Following the recent declines in price
of old material, several hundred tons of
car wheels have been sold for export to
Belgium, and opportunities are presented
for exports of heavy steel and other
grades of old material to several European
countries. The export movement may
check the decline In scrap In the eastern
territory, where one steelmaker obtained
several thousand tons of heavy smelling
steel at $10.25 delivered.
New York, November 19.-tSpecial) THE
Iron Age will say tomorrow The slowing
down in iron and steel operations con-
tinues and in the case of some steel
companies has been more sharply accent
ed in the past week. Buyers of steel
products are expecting lower prices and
therefore do not consider this the time
to make contracts.
Automobile companies are known to
cultural machinery interests, judging from
the falling off in their bar specifications,
are operating at a good deal less than
full capacity.
Railroad buying has not improved and
early betterment is not indicated Some
of the rail mills are close to the point
where very limited operation, If not shut
ting down, will be forced unless they
can get orders for winter rolling. The
entire industry is now close to a two
thirds operation of finishing mills.
Foundries have not been as much af-
| fected thus far as concerns which use
rolled steel. The former were laggards
| in the improvement of two years ago and
are correspondingly tenacious OF business
| now.
The decline in prices of rolled is slow
and steady. Black sheets have sold at
| 81 a ton less than last weeks price.
| The situation as to imports is un-
| changed Eastern representatives of one
! European steel company have had scores
of inquiries for prices from new sources
| without closing any business. Domestic
consumers talk of foreign offers and OF
| import possibilities, but all hesitate tC
make the plunge. preferring home prod.
! ucts of known quality at a higher price
| The Standard Oil company has bought
| 100000 boxes of tin plates from Welsh
makers for January and February ship
ment. Welsh workers are also reported
to have booked a large British Columbian
order in competition with the United
| States.
Pig iron prices still tend downward
and some recent sales by eastern fur
naces have been at cost to keep fur
| naces in operation Further sales OF
southern iron at 5000 at Birmingham for
No. Q are reported, but confirmation is
lacking of the rumored sale of 20,0Ot
tons Of pipe iron on a $40 No basis
|