The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-31
THE STEEL MARKET.
Increased Buying Expected After
the First of the Year.

The steel trade was quiet yesterday
and few orders were placed. owing to
the approach OF the holidays. and no
marked activity is anticipated until they
have passed. After the first of the year
manufacturers look for a marked increase
=. huy!ng Of steel and hsttar pricAs are
expected to result, Some Of the mills are
still operating at a low rate OF capacity.
but material increase in production is
also looked forward to.
The Iron Age says: The main de-
velopment OF the last week OF 1914 is
the action of a number OF manufacturers
OF bars. structural shapes and plates in
advancing prices from l.OJc. Pittsburg.
on early deliveries, TO l.lOc. one indie
pendent bar interest made the advance
last week. On Wednesday. December 30.
the Carnegie Steel Company withdrew
Lose. quotations and announced as its
minimum prices on tho three products.
1.10c. for first quarter and 1.Ijc. for
second quarter. Two Independent produ-
GERS In these lines are reported to have
taken n similar stand this week, and the
indications are that the i.OJc. price is
not being carried into the new year.
THE amount of first quarter contracts
booked at l.lQc, on which readjustment.
would be necessary II any lower price pre-
walls OH curp<nt business. u "A strong in
centive 10 sellers to hold the new mini
mum.
due 10 the reduced state Of railroad
trSIHC ana tho idtt tntt new cars can De
had in six weeks, there Is no hurry to
place car orders bu' few roads are
looking up their needs. Prominence has
been given in this connection to the
Pennsylvania Railroads. probable re-
durements of 5000 cars OF various types
Tho Illinois Central Is still negotiating
for 1000 refrigerator ears.
December bookings of all independent
steel companies have been cons deraby
larger than those Of November, though
few reached the 100 per cent. rate OF
gain reported by the Steel Corporation for
the first three weeks of this month that
being apparently due TO the inclusion of
some special contracts with extended de-
liveries.
The rate Of mill operations in early
January will show a moderate increase
upon the December average. Steel con-
sumption is little changed. but specifca-
tfons have come in better Of late on low
priced contracts running out with De-
cember. Predictions range from 80 per
cent. to 80 per cent. as the probable opera
tion by tho end Of the first quarter.
Foreign barb wire demand is hard to
measure. Probably 1900 tons OF what
Is talked about IL actually wanted. much
OF it FOR Great Britain. Further large
Inquiries for shrapnel bars have also come
mp. Russia is In the market for 2 900
tons OF cold rolled strip.
Tin plate works are exceptional In
IuHilHB 1T nearly per cent. OF capacity.
Since shipments for Pacific coast can
neries are to be by the Panama Canal.
earlier rolliigs than usual are required.
The STANDARD OH plate contract co.
900 tons, for shipment in the first half
81 1915. has gone Into an eastern Penn
sylvana mill.
'December inquiry for cast iron pipe
coming from gas and water companies
and other private buyers has been the
largest for that month since 800. Low
prices have been the stimulant. Balti-
more has Just bought 400 tons and
chicago 1000 tons. Cincinnati VIII take
bids on 400 tons and Boston on 3 500
tons. Tn. first compilation OF statistics
or thls product shows the country's out
put 10 have been l,e66,2i5 net tons In
1913"
iron Trade RCricu says: AS usual al
ms time OF tho year there is a decided
Iull IN buying and many plants are
IDLE during tn" holiday season Prices
are hr'n. however, and in finished ma
terials there IL a strong tendency to get
away from the lowest quotations l~-
Gently made
I'm machine tool manufacturing CEN
trcs plants are unusually busy working
Oh orders for European Governments
some plants have enough orders in hand
10 keep tl"m busy until March l.
"A Cincinnati concern last week
shipped two carloads or luthes to Eng
lallu ana received an olhcr Tor TWO car
.oads OF lathes for Italy, the latter being
fhc third order that the COMPANY has
received from the same source within
Gse past four months"
The Ddily Iron 7rdde SAYS: steel
mills propose present low prices on I'm.
ished material will last only two DAYS
longer and after tho rev year will de.
rnand sllO Pt'sbng for FIRST quarter
This has resulted In good spot huying
IN the East
Practically all nrs, quarter buying OF
pig Iron has beell completed I'm In, East.
nut the market AT f'itshurg is marking
nine, New York Central Railroad hn.
put out additional good inquiries for
shke', bolts ana other nHteral. Nillys.
L overlhlh Company AZ Toledo has bought
\ 1000 tons OF aluminium for frs. hnlr
IRON an American producer"