The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-23
THE STEEL MARKET.
Railroad Demand Grows-1OO,O 900
Tons Of Bars Sold.

The steel market continues active, and
prices are Arm, with an advancing ten
dency noted at nearly all points. A
steady increase in the demand from
railroads is being noted. Large orders
for track equipment have been re-
ceived and additional business is looked
for. The mills are very busy, how
ever, and are not soliciting new bust
ness to any extent. The demand for
steel for conversion into ammunition
remains very heavy. 1t Is estimated
that in the past few days close to 100,-
600 tons Of steel bars rave been sold.
The Iron Trade RcuicU says: "1m-
mense quantities OF steel bars for the
manufacture Of shrapnel are being
placed. A Pennsylvania company has
closed for $4,000 tons additional, the
shipments to begin in December, at a
good price. A locomotive works prac-
tically has closed for 10000 tons OF
rounds.
Enquiries for steel for shell manu-
facture now pending in the East aggre-
gate fully 100000 tons.
considerable BOAT business on both
the Atlantic coast and the lakes Is pend
ing. and prospect for placing Of large
orders for plates Is excellent.
Eastern structural mills have adj
vanced their prices to l.5Oc. P%ittsburg
~ ' IL ~ Jun III
the pig iron market, but prices are firm.
Demand for lathes and other machine
tools for export continues very active"
The Iron Age says:
Export business l. more distinctly the
dominant factor in the steel trade than
In any previous month OF the war. For
eign rather than domestic demand caused
an advance OF 81 a ton in wire products
on saturday, and in the past week the
inquiry for steel rounds and for billets
and blooms from Canadian makers OF mu,
scale well nigh incredible.
a whole the market Is moving up
ward. not uniformly, nor yet. with any
spectacular developments. but In response
to the special influences that have pro-
dncei a scarcity OF steel, This week
ing and bolts and nuts, In addition TO wire
products. have advanced. without any cN-
pansion In domestic consumption.
French purchases, as just announced,
will now be Of large squares which viii
be forged abroad. TO make . inch. TO-.
these last weighing about a ton. The In
roads those demands will make on our
steel supply, added to the new Russian
requirements, are far beyond early Calcu-
%lations.
Domestic consumers OF steel bars IN
other lines. buyers are not being followed
up in the usual way 70 get their reaulrs;
hands are stlll small.
AS a rule the railroads are moving de
/ auirlng az chicago. including the santa
Fr. which recently placed 10000 tons ~
rails In Colorado for Its lines west OF Kan
Sts City. The Erle has bought 10000 tons
for next year from the Illinois steel Com
pany. and the New York Central IL ngur-
Ing with the mills. Even with car short
ages In sight the attitude of railroad buy
srs - decidedly conservative.
Recent barb wire Gales for export have
been large. 1000 ton lots being common
and SOM" contracts running up TO 10000
IONS bvs isuuiry = Tor $4,000 tons OF
painted BARI wire, with shipmen;s Of 10
600, ions a m"njn Export barb wire has
british rla mills are far from busy, bat
American competition l. scarcely the req.
son. though l. II alleged.
The booking % .VO.0 GOO boxes % TIN
plate for sNpor. by Independent producers
!, reported. In View Of the scandinavian
b destination ~ much ~ this, the question j.
/ raised whether a British permit Tor snip
meut VIII Dee granted. -.
That the rata works in India Will
rr-nt IN shat mark. British regulation
NIl determine now much II tnl- may To-"
. shipped to the lut'"I states. Thus ft-
/ American makers have been able to &c;
TIT pig iron market Is qu.eter. but each
week has .t- quota 81 new contracts. For
southern No. = foundry Iron Sll.50 at Bir-
. ulngham has now become the minimum
! The TeHnt-s"" company has advanced IT,
I prize go So 20 Cor the first half OF 1916.
'Iogudrics are moving cautiously In buy
ing iron for nest year, ami the next few
furnaces. PIX iron OUTPUT IL increasinE
AMI the whole price situation Will turn
on the ability OF nifty furnaces or more
thai were in blast in early 1919 and are
campaign and to make a rront a, presrr'
prices