The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1914-12-11
FREIGHT RATES TOO HIGH
TO Boz Steel EXPORTING
The Pig Iron Market Appears to Have
Reached the Or st of the Buying
Wavelet Last Wssk. Says Report of
'The Iron Age

New York. Dee 11.-''The Iron
Age" says December buying of steel
products which was expected to follow
rather promptly upon the appearance
OF Lose, Pittsburgh, price for bars,
plates and snaps is not yet large. Five
weeks of better feeling have done some.
thing for order books, and buying has
increased in the past week, but there
is thus far no repetition of the free
contracting of three years ago, or even
OF the lesser movement in January OF
this year.
1t is still true that when any eonsid-
erable business is done prices suffer.
But there are rather plain indications
that the response to Lose, Pittsburgh,
quotations has not been enough 10
convince the mills that the market can
be lifted by temporarily going under it.
Hence more is heard OF 1.10e. for bars,
plates and shapes for the first quarter,
while Lose. applies to earlier deliver
les, reaching in some cases into and
through January.
The pig iron market acts as though
the crest of the buying wavelet was
seen last week. With few exceptions,
the purchases by foundries were of
moderate size and some of them were
based also on expectations of usual
casting contarets. Their effect on
prices is not vet clear. Buffalo fur
naces are firm at SIS for No. y iron.
At Chicago sales last week were gener-
ally below SIS at furnace, which is
now asked, while in the Central West
prices of the past tive weeks remain and
in Southern iron 1915. Birmingham, is
still TO be had for the first half of 1915.
December sales of Southern iron are
put at 100000 tons. including about
10000 TO pipe foundries. At Pitts
burgh in the past week $4,000 tons,
mostly Northern iron, was bought for
sanitary foundries, making a total of
$4,000 tons of foundry and steel max
ing iron in that district in two weeks.
Cincinnati reports that the recent buy
inc OF foundry iron there foots up more
than was indicated at the time and at
Cleveland last week 5 selling was on a
good scale. one firm s orders being 20
600 tons, so per cent. being foundry
gra les and the remainder malleable.
Pig iron production dropped sharply
in November. The 147 furnaces active
December /, loss of IL in the month,
were producing at the rate OF 4S.464
tons day, against 53,25S tons day
on November l. Thus the country is
producing at a yearly rate of about
100000 tons, the lowest since Sep
TENDER. 1905. or a little more than half
the maximum rate of February and
March. 1918, which was about 54,'
100000 tons.
The Santa Fe railroad has increased
its rail orders for 1915 TO $1,000 tons,
adding to the 1900 tons being rolled
at Chicago an order for $4,000 tons
for the Colorado mill. In the interna-
tional rail market Queensland is inquir-
ing for 10000 tons. Denmark for TO-
600 tons and Greece for 5000 tons.
British rail prices are up 2s Cd and
higher ore has generally stifened the
finished steel market there.
Exports of steel are hampered by
high freights and more marked scar
city of vessel room. To England POS to
sos is the current market, which at
S23.75 for sheet bars in the Swansea
Valley makes such exports far from
attractive 10 American mills.