The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-28
THE STEEL MARKET.

The Republic Iron and Steel Company
has advanced Its quotation on plates,
shapes and bars to sis for March ship
ments and 81 a ton higher on second
quarter business. No great Significance
Is attached to this advance. however. as
recent bookings which tho company has
received have placed II in a rather indie
pendent position. and other companies
have not as yet followed this step, Incoming
orders have shown no material change
and the rate of production Is about the
same. Steel makers, however continue
hopeful Of an increase in business in tho
future.
The Iron Age says: THE Steel Cor
poration's report Of $4,000. 900 earnings
In the last quarter OF 1914, or $500. 600
less than the previous low record, in 1904
shows that the last two months of the
year were worse than was generally
known at TIE time. The figures should
serve to check the tendency In some
quarters to take too favorable a view OF
January conditions, for II has been a
creeping Improvement and nothing more.
Some further rail orders have been
given out-closo to 10000 tons in the
West, OF which 10000 tons went to the
Colorado mill, made up OF 20, 900 tons for
the Missouri Pacific and 10000 tons each
for tho Burlington and the Rio Grande.
The Chicago and Eastern Illinois bought
l 900 tons and the Union Pacific 10000
tons. The Burlington has placed another
supplemental order or 5000 tons at
Chicago. The st. Paul and the Rock
Island are inquirinE for about $4,000 tons,
Eastern mills have taken $1,000 tons for
the Boston and Maine. the PETERBOROUGH
is asking for 5000 tons and tho New
York. Ontario and Western for $500 tons.
In the export trade the chief item Is
| 4 n n e lie TO- ~.
Chilean state Railways. France has
bought 10000 tons In England and Ger
many has an order from Sweden for
$1,000 tons In spite Of high freights
some business in semi-fnshed steel for
England has been taken here, Including
5000 tons of biliets wnicn dne Tennesse-
Company will roll. In wire and shrapnel
bars tho export demand seems to have
, subsidized. The French reconstruction n
bridges, investigation by American struc-
tural mills shows, will largely await the
ending OF the war. Steel for smaller re-
pairs has been placed In England.
Recent rail orders will give the Gary
mill work for TWO months and In view VI
its starting up on February one OF the
Idle blast furnaces there has been blown
In. The Steel Corporation Is also to blow
in this week furnace at Lorain, Ohio,
and two IN the Pittsburg district Active
! ingot capacity OF the corporation is now
! close 10 % per cent.
Galvanized sheets have already ad-
vanced So a ton, or to 2.90c, for No. IS,
due to the sharp rise In spelier, and
sellers OF sheets are mono too ready TO
quote this figure
The Iron Trttde Rerteto says: High
ocean freights are interfering seriously
| with the business OF not only the United
States but Great Britain and other ma
| lions.
ION account OF the difficulties connected
with the importing of ore from Spain and
I the Mediterranean. due to the high charges
made by vessels, prices OF steel making
| irons in England have rapidly advanced
and Inquiries for about 1000 tons have
been received from England. Italy and
Japan also have sent Inquiries for Amer
/ team pig iron. II Is doubtful. however.
! whether much business can be done IN
exporting pig iron at present ocean
/ frelHhts.
/ THE pig iron market IN this country Is
| quiet, but In some centres consumption ~
increasing. In finished materials prices
are being fairly well maintained. but de-
mand improves slowly"
| The Daily Iron Trade says AN ad-
vance of 81 a ton Is asked by one large
! Independent steel concern for plates,
shapes and bars for March delivery and
SO ton advance for second quarter.
| High ocean freight rates are curtaiing
American finished steel exports"