The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-21
THE STEEL MARKET.

There was no material change In con-
dttions In the steel market yesterday.
Buying continued to he maintained at tho
rate Of about 90 per cent of capacity and
IN a few instances was slightly better.
Nepcrts from the Pittshurg district con
tinued 30 tell II increasing operations,
but against these was the slowing down
OF demand. particularly IN railroad lines.
There seemed to he an absence Of large
orders for steel rails and equipment
sentiment among steel men, however, has
not been shaken and an increase ia de
mand is looked for
The Iron Age says:
"pittsburg advices give a more IA
vorable aspect to the steel trade. Mil
operations in the district are now stated
TO be az 30 TO 55 per cent. OF capacity,
which shows n considerable gain In tho
rate of production az compared with the
preceding week
Most interesting news has Just been
cabled to us by our london corresloudent
lie states that the British iron market
Is excited. with pig iron prices rapidly
rising The makers W pig iron, especially
producers OF hematite OF Bessemer iron,
are now being obliged b. pay IS shlllngs
tS3.65l per ton for freight IN ore from
Spanish ports TO Middlesbrough Other
branches Of the iron trade are finding
their costs advancing because or scarcity
An exceptionally large order for lire
pipe has been taken by the National Tube
Company for nm oil line to run from
Oklahoma TO the Gulf Of Mexico This
contract will require 40 900 tons ~ steel.
While wrought pipe. aside ON this or
der. shows no special activity. the cast.
iron pipe trade is decidedly active. Chi
cago will shortly buy about 10000 tons
" cast pipe and other contracts soon ~
he placed IN that territory run the total
up to about 5000 tons Pipe founder,
report brisk buying by gas companies and
others who do not advertise their lettings.
the volume ~ business OF this character
running much beyond It's usual rate at
this season.
The increased business among cas-,
Iron pipe founders is causing little moro
activity In lower grades OF pig iron.
Philadelphia reporting recent transac-
lions aggregating some 10000 tons The
general situation as to pig iron shows no
relapse into dulness. as had been feared
might follow the hcavy buying OF Decem-
Der.
The structural trade is still consider
ably below its normal activity. The
Bridge Builders and Structural Society
reports that only 20 per cent % the
fabr.cating capacity Of the country was
contracted for In December Among
new contracts just placed IL that for the
Kimball Building. Chicago. $500 tons
an addition to be made to the New Eng
land Building. Cleveland. will requir,
1000 tons. and a hotel az Columbus
ohio. will take 1900 tons.
"Shipbulders are experiencing an un
precedonted demand for ships. Severa
more ships have heen placed under con
tract the past week and Inquiries ar,
still coming forward Thousands OF ton,
Of steel plates and shapes will he con
sumcd"
The Dolly Iron Trade says: "Fully
$1,000 tons OF low phosphorus pig iroi
have been sold quietly In the East. viii
fair foundry tounaEes pending on In
qulry. Tin plate mills are busy arount
so per cent. of capacity and wire mai
orders 10 mills continue encouraging
Eastern mills received rail orders from
Norfolk and Western and good spike Or
dcrs from Seabolrd Air Line High oCeai
freights continue obstacle IN placing goo,
billet business IN England"