The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-05
THE STEEL MARKET.
Advance Made In Quotations q"
Vnrs, plates and shapes.

II was announced yesterday tnat sew
cral Pittsburg steel producers
their quotation on bars. plates ana
shapes 81 per ton to S1.35 per lOo POUNDS.
IL is expected in the trade that II VIII
not be long before other producers take
similar action.
The steel market continues active and
firm with demand being maintained III
all directions. Some interest Is being
attached to the Improvement In the
equipment market. Car orders are more
numerous and new inquiries are making
their appearance.
Production Is increasing steadily and
the mills OF the country are understood
to he operating between 80 N % per
cent. of capacity.
The Iron Ace SAYS pig iron. after
being I'm u rut for months. while steer
has been active at advancing prices, mas
started in the past week on what prom
Uses to be an important movement. Prices
In all districts are up 20 cents 10 on
cents, and the sudden appearance or IN
uuiry from many sources Indicates an
effort of consumers to forestall "A Iona
delayed rise.
THE southern Ohio market has been
particularly active. Sales OF basic IRON
at Cincinnati were above 100000 tons
i'm july. including 10000 tons to a large
sheet interest. and two inquiries are
pending, one for $4,000 and the other
for 10000 tons. In foundry iron. en-
cinnati sales have been ut higher pric $.
most sellers of southern iron now ASK
ing 1850. Birmingham, for No. :. New
York and Chicago pig iron markets nave
also br%oadensd. and the advancing Ten
dency Is more pronounced.
ITO an increasing extent foundry IRON
buyers are lnquiring for 1916 iron. Most
furnaces are staving of such distant de-
l~iveries, but some have quoted 80 cents
Ia 81 a ton advance for hrst quarter
iron. rs represented by Sl4 at Buffalo
furnace
Pig IRON output is crowding close to
high record figures, but all because or
the prodigious demand for steel. In
July the mei chant furnaces. due 10 the
rOor working of some and " out
of several. made less iron than In June.
Most of the furnaces now out Will re-
qu,re higher prices to bring them into
action.
The country's July pig iron prcduc-
ton was 2.J63.i@0 tons. or 1881 tons
a lay. against 2,3S0.S.1 tons IN June.
or 1851 tons a day. Tho steel com
panies are now close TO their maximum
pig iron capacity. They made $3.50
tons a day In July. or 1900 tons more
than the daily average In June. In only
four previous months-January. Febru-
airy. April and May. l9l3-was the pro-
duct!on Of steel works furnace greater
than last months.
"StNtceu more furnaces were ~ bias.
on August ] than on July Ia total OF
.3i. with A daily capacity OF SOLO
tons. against 2iS furnaces and SOIL
tons a day. Thus production to-day =.
at the rate OF $4,000. 600 tons a year.
| against 5000. 900 tons January |. Tie
greatest years total was $4,000 900 tons
In 1913.
AT $40 and higher In eastern Penn
sylvanla for rolling billets. sera!-fnishrd
steel is above the level of some finished
products.
The bewildering feature OF the East
orn billet market is the rapid advance
in the past three weeks from s2l, NJ
which some recent purchases were made
by the Steel Corporation. Yet billet
sellers rave little steel to sell for this
year and in the central West the short
age in open hearth steel grows more
acute.
AT the same time bars for war pur-
poses have ranged from o5 cents TO
, rs cents. Various new inquiries FOR
rounds have come up. including one for
$1,000 tons Of forging rounds at Cleve-
/ Land