The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-30
THE STEEL MARKET.
some Export Contracts Arc placed
At Premiums

The railroads have placed additional
heavy rail contracts. and more large car
orders could be distributed II the struct-
ural steel were available for delivery TO
the builders before 1917. Export in
quir!es also are heavy. but f-w contract,
are being placed because mill capacity
j. taken w for the nest MIN. months.
Some r.sales. IN lots Of 1000 10 5000
tons. are being made for foreign ship
'tIent, however. al premiums of 81 10 81
IA ton. This Includes bill-ts and bars.
Forging billcts hav. brought 81. t. $50
IN the Eastern territory.
structural steel work is still quite
active. although much il heard Of with
drawdis of inquiries. and OF more con-
crete work at the expense OF steel.
steel sheets are urgently wanted. and
M manufacturers IN the Pittsburg
district have advanced prices 81 to 81
a ton. sales Of No. IS block being made
AZ 3 cents and galvanized at . 10 $40
cents "A pound Tor shipment In the third
quarter. ppei hearth sheets command I,
premium of s: 4 ton over bcssenrr
sheets.
Automobile manufacturers are urg
entity III the marh-' for special steel fcr
delivery late this year. but can ind no
mills 20 promis" deliveries until '9l1, and
one coitrac, Tor 10000 tons his been
ipF'f ''l 'ANl' f'l - -
ing 10 note that manufacturers of aSr.-
cultural implements and of automobiles
have been stocking metals DIS much n
possible for several months, and in soine
cases warehouse inventories have nearly
doubled. This action has been prompted
by the uncertain traffic situation, as well
AZ by the tardy shipments from the mills
High prices for steel, copper and alumni.
nun are also factors in the situation
S.. ,-. f.at .,r -. - Lat
The Missouri Pacific and Iron Mount
ain Railroads have been authorized by
the Federal Court to purchase 80, "01
tons Of heavy steel rails.
The iron vac SAYS. sign. of q more "Uu
servativc spirit are beslulIiis TO anpear ~
crest Of the way" OF lrI,c advsn,ss hss heel
rea. he'd or i rCa- At hand Sentiment IN
clines NO le,s strongly 20 the belief tina, "a,
mills will I've crowded for all the year. bu,
there II less excitement and buyers ar. uol
~ indifferent 80 the effects Of high prices
war demand Is hot as insistent, part',
becsus. Of the long time for which mil,
sre sold. But there is the definite statement
from agents Of Great Britain that they Vii
for more than thre. months ahead In sey,
eral quarters In the machine tool trade the
pressure Is no, 90 grea, some Tarnfat mirs
months nv IT.. fear OF a shortas OF material
have large stocks and many inventories have
doubled AZ the ZANE time premiums for
larly for pilates. shapes and bars. teud higher
Indicating small stocks IN manufacturer
hands spikes. bol's and other track supple,
are h-ln- ordered for next yesr also Irsiea1
Of the i5,Oo to 1850 cars for the Pcnnsyl
yania. widely heralded. that company is buy
Ing ?j.0U tons of steel for the 900 cars II vii
build for itsclf Locomotive orders have beer
large. the total Tor the trs, quarter os III,
wear being about l,3N sg,lns, 200 for al
Of 1915. Western indictment makers are CIV
ing wide publicity 10 the probahl. ",l!rtall
ment Of their OUTPUT this year brcause OF
higil prices aud scarcity of soft stee! bars
Some of this trade. covered for liars VI islc
for the second half and In other CASES a,
70. and higher"