The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-01
THE STEEL MARKET.
Producers Have Lowered Their
Prices to Attract Export Business.

Foreign Inquiries for WIRE products ana
plates promise a fair amount OF business
for American steel mills. Prices named
ON these products are lower than a month
ago.
Tho Iron Age says.
with little prospect OF q change N
the uuIaVorsbc conditions a. home IN the
remaining months OF The year the steel
trade Is getting some satisfaction from
export ORDERS and the further develop
mcuts iooAed Tor In that direction. The
steel Corporation Is now bookIng foreign
1 business at practically the rate az which
IL was coming m before tho war. which
indicates good progress IN September.
"With British poiIng mills operating Mt
about 80 per cent. o. capacity. and Steel
works there running ncarIy full. no laI Sc
amount of seml-uuIsncd steel need be
/ drawn from this country. About 1900
/ tons of ehcct bars have been sold ia this
| country 10 England ami II IS expected
| this amount wll BE- increased To 100000
! tons by tho end OF October. But nothing
| like the amount usually bought from Ger
many VIII be needed under present con-
/ dItonE.
British buyers have made II plain
| that the prices first named for American
| sheet bars were too high. and their ability
! 10 supply "a largo part OF their require
/ meuts 1T home has brought better terms
from this side.
Wire products are still prominent in
foreign Inquiries, and tho total now UP,
! including wire rods, IL pu. at close to
| 10000 tons. In plates further Item
| is several thousand tons Tor Australia,
| ~, 600 tons for water pipe line there
! having recently been closed. Russia Is
In the market for 10000 tons of plates.
Ia general tho prices the mills ore no"
uuorug export houses on finished material
| IRE lower than were named In August,
when the idea prevailed that the world
must soon turn to this market for Its
steel
THE decline IN specifications and the
greater falling of I'm new orders IN SEP
teuucr hsvo left steel companies little
encouraged over the outlook at home
| On the Chicago district mills have
not been for years 50 short OF work in
hcsvy products. Shapes and plates. II
Yea admitted could DE bought now at u
10 So under tho 12oc. Pttsburr basis
structural works report about 10000
tons OF live projects pending, but that
represents less than two weeks work
for tAs fGbricdturs OF steel Recent
competition has shown that l.lOc. basis
is commonly figured On, and IN the case
OF the Mail and Express building AZ the
Gran. Central Terminal IN New YORK
which win require $500 tons that hrure
has not been minimum.
"S1mC bar business mas DfSu uOllc ApI
the first nalf OF next year. including a
: 600 ton contract nj Cleveland. Con-
sumcrs have shown n willingness to ply
zoe pittsburg for such delivery but
bar mills as II rule will rot tic up AZ
chat figure. In bar iron some low prices
have heen made In the central West, II
Chicago man having sold at lose. IN
| Ohio and az low as &c, has been done
"Such starnaton as has come upon the
pig iron market has probably not beei
seen since 1896. In lieu OF business, sell
, era of southern pig iron have been eNer'
clsod over the failure ~ certain roads
, In central territory TO make tho reduc'
J ton Of 80 cents on Southern iron Whlcf
was called for In the commerce com
! missions order in July. Two sets o.
j rates are now in effect In that territory
ana tile mntter viii again go to the com
mission Tor adjustment
iron Trodc Rcr'ctr says: Business "
. iron and steel products continues TO- b.
extremely dull zig iron Is the duiles
: It has been In twenty years. with M
: prospect of early Improvement. IN tn
{ / ishcd materials INQUIRIES from foreign
" lands continue to arouse some Interest an'
. undoubtedly q fair tonnage of Fteel u
y being ,htpped abroad, hut very little den
- nito Information is obtainuOlo Tor obvloui
- reasons
y Great Britain win require fully 100,
. 0O0 tong sheets 90 build winter quarter
: for troops White II "a not eSpoctc
. MI a large part OF this tonnage wi
come from the United states It seem
probable that willie ENGLISH mills VII
luppiy large part OF tho tonnage, the
VIII be compelled to neglect their ow
regular trade and give American mill
(, chance to obtain business which unde
l. ordinary conditions would 20 to Englis
mills"
M Tha Datry Iron Trade says: Maker
81. Ia,