The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-15
THE STEEL MARKET.
Price for Bars Advanced-Demand
for Product Grows.

The most important development In
the steel rad yesterday was the ad-
vance in the price for steel bars TO
$40 per 100 pounds by the United
States Steel Corporation and the Cam
bria Steel Company. IL was also re-
ported that one large Eastern steel COM
pany moves its price for this product up
to S1.35 per 100 pounds. It is expected
that other steel companies will soon fol-
low the lead taken by these producers
and advance their quotations.
Demand for steel continues very ac-
tive and production Is steadily increas-
ing. Mills Of the country are said to
be operating above 30 per cent. OF
capacity. There are heavy export in
qulries before the market for steel
rounds to he used in the manufacture
are said to be in the market for about
10000 tons. Prices on the class OF steel
desired are considerably above those for
ordinary grades. one concern asking
$3.50 per 100 pounds.
The Iron Age says:
"A further increase In steel produce
ton has become necessary to keep pace
with the continued expansion OF de-
mand. July developments have gone SO
far to strengthen the situation nat steel
manufacturers now speak with assur-
ance concerning the remainder of the
year.
Tho Steel Corporation has started
up four more blast furnaces and a con-
siderable number OF open hearth fur
naces. and this weeks working sched-
ules represent 80 per cent. OF It's ingot
capacity. TIE resuming blast furnaces
are at Cleveland. Lorain. South Chi
ago and Pittsburg.
I'm addition, tho Riverside plant at
NV na
blast furnaces and two Bessemer con-
v~erters. idle for I'VE years. has been
ordered into commission.
Further evidence OF growing con-
sumption is the purchase OF outside
steel by the Steel Corporation. 1t has
now placed orders for $1,000 tom OF
billets with Eastern steel works. includ-
Ing the Is, 900 tons reported one week
ago. besides $4,000 tons divided among
three central Western companies. two In
Ohio and one in the Pittsburg district,
making a total Of 10000 A. so
per cent. of it's blast urnac capacity
Is now running, II Is not expecting to
buy pig iron In the open market
New business this month has been
at about the same rate as in June. when
the Steel Corporation shipped nearly
10000 tons a day and booked $4,000 TO
5000 tons a day. Its export business
amounts TO 10000 tons a day.
AN advance in bars. plates and struc-
tural shapes to l.30c.. Pittsburg, for
third quarter delivery was made by the
Carnegie Steel Company and Illinois
Steel Company on Tuesday. and a SINH
lar advance was announced at the be-
ginning OF the week by the Cambria
Steel Company.
There Is no end IN sight TO the bar
amman vanNfpaI for Snelg and huy-
ers are looking further ahead. Con-
tracts covering one and two years are
now proposed. one calling for more than
100. 600 tons OF rounds. Tao bar speci-
fcations OF agricultural machinery
makers have increased. and Chicago re-
ports July resumption Of such plants.
whereas earlier plans looked 20 starting
In September.
The delay in placing In this country
Russian orders for 2o0.0 900 tons OF sixty
seven pound rails has been largely a
matter Of terms. II Is reported, WIN
out direct confirmation. that tw0 Gen.
trail Western steel companies have taken
this business. one receiving l.5,ooo
tons and the other $4,000 tons.
"In mig iron the feature Is the pur-
chase Of 40. 900 to $4,000 tons OF basic
iron by a Youngstown steel company
from a Cleveland furnace that Is about
TO b. started. the delivery price, VIZ. pe-
ing below the present basis for Valley
iron.
"A sale OF 5000 tons of basic has
been made at Shenango Valley furnace
and one OF $1,000 tons OF Bessemer iron
a, sl4. Valley furnace.
ION an export inquiry for 10000 tons
OF Bessemer iron OF special chemistry
Sis, Valley furnace. has been quoted.
The central western situation in steel
making iron is stronger. Foundry irons.
have not shown corresponding
firmness.
The Iron Trdda Rerie,o says:
Thorough investigation as to the ex-
tent to which recent improvement In
demand for iron and steel products
IS due to domestic demand clearly
that the demand for consumption
within the United States. In no way con-
nected with the war. IL increasing. This
has been rue especially during the past
few weeks.
at IL also true, however. that very
large tonnages OF bars and other finished
materials are being sold for manufac-
ture OF munitions
THE most interesting development in
the past few days has been a decided
in the demand for pig iron. es-
pecially steel making grades. In the
Pittsburg district, where round ton
nages Of basic have been sold at a
moderate advance In price. A steel COM
pany. through it's export epartment,
sent out inquiry for 10000 O n OF steel
making pig iron FOR export.
High freights interfere with The ship
ment OF pig iron to England.
rlA. " n hllA A-