The sun., 1916-02-03
THE STEEL MARKET.
Large Inquiries SIN From Dom"s-
tie tOnaumcrs.

Strcl mills report continued large IN
putri"s from domestic consumers OF si""l
pilates. sheets, TN p'i'" and VIII" prod
ucts Export inquiries ar. numerous and
call for heavy tonnages ot hillets and
bars There are also numerous small
foreign inquiries for miscellaneous prod
ucts. and some sales have been made 10
mcrchan, interests that have their own
ships. tn" major portion ~ the inei-
chant sales ~ for shipment To Great
Britain and France, while the mills have
taken direct business for shipment to
Mediterranean ports. 20 South America
aud the Far East.
According to late reports from Chicago
car builders have closed for large ton
uages and are st,ll negotiating Cor heavy
tounage~ of steel plates and shapes for
very over the second half of the year
Some options htN" been given and III"
placing uf larger contracts of cars before
the rioso of th" month Is expected,
Accord ~ 'u late adNic.S the volume
Of husiur~, secured In January 10y the
larg. interest Wa much heavier than
was indica'"d ny previous r'p"r's Tpon
estimates from the central West II is
'udicated that ~" Iut"d States Steel
'orporat uuHd" a further substantial
gain IN untitled tonnage ~ January. as
several uf Tho subsidiary companies
booked orders far IN excess Of m'll ca
pact,N. The output of rolled products
iu January Was slightly loss than IN
bpcrut,er.
Sales of pig iron IN tho local dstrir, con.
'luur light Inquiries are also small both IN
uumhcr and tonnage More ur less diinrulty
- stll hcug cNperlrncrd IN making shipments
into New England because uf the cmhargoe-
maintained hs four Eastern lines Ealurt the
New Haven system Some metal IL gOins for
ward hy water On the lakes contracts for
90 WH tons are reported
The Iran iUS lIg trOu production
IN January Tell on shshtlS trou tho Deccm
her rate. hut the loss ~as due entirely TO the
strikes AT Youngstown The ii.pu tons redur
ton there was nearly made NJ hN the blow.
Ing M Of iripr- lu other district. w jan
unry the "ouutry.- output VAS alss,3H tom.
or ib",NiG tom day, AGAINST 2n3,9a2 tons N
December. or i"3,Si3 tou- u day
There was not sam Of twelve N the
number Of active turuaros las, mouth, 30,
being in blast February !, with n capacity o
l0il,a ton. a day. against 10 ON January l.
with capacity Of ~. 90 ton. day
1T is thus seen that barring Interruptions
from extreme cold or storms, which are likely
to come M February and March, or new
strike outbreaks or Cmhargoca there II ahrHl
further moicraic increase in pig ron pro
ducton In foundry iron as well as IN the
merchant trade in steel making iron there are
Indications also Of increasing demand The
viii be struck between the two q. regard,
prices II anothcr buying movement sets in,
Of which some signs appear there may m
further stIneuine For three week. mig iron
prices have gone substantially UNCHANGED
AT Detroit larsc automobile conpany
has bought Jn.NN tons Of Northern foundry
iron, chiefly for the last half Of the wear At
Cleveland there have been sales OF 1000 To
iO.oD tons
AT Ihttpburg II IL possible to shade the
nrirrs recently considered ss the market for
basir and foundry irons
The acute shortage III semi flushed steel I.
little affected by the new steel rapa,Ity re-
Gently started. n Duluth severe weather has
cut down expected output At Cleveland the
new open hearth production is limited and
viii bc absorbed locally
Some open hearth steel from tho South II
still going abroad as bullets Rcornt sales OF
American steel to En-land have been at
about S.. for 2 inch aIn inch hessrn,rr
bullets T. %. b. lAvrrpool and $50 for tIt inch
open hearth billets
with all that has been known Of the prs