The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-28
NEED AT STEEL MILLS
SENDS ALLOYS HIGHER
New Contracts for FcrrOman-
Tanesc at S17J-Small Lots
at n Cents a Pound.

steel companies IN the Eastern dis
trict. as well AS those In tho central
West. continue actively In the market
for steel making pig iron aud for heavy
melting steel scrap. Contracts came 10
the surface yesterday amounting TO
nearly $4,000 tons. including ,Sle lot
Of "A little more than 10000 tone OF pig
iron to be shipped from lakes into the
Ia stern district Tor delivery over Inc
second quarter and second half Of this
year. Another sale OF about IS 200 tons
ot steel melting scrap was made by
AL Eastern mill Tor carly shipment. The
contract IL sald TO amount To about
$500. 600. similar contracts are pend
Ing and are likely to be- closed Ia the
neAI few days. ono New Jersey In
tons OF basic Iron. Low phosphorus
Is scarce and wanted in liberal tonHages
for this years delivery.
Sl,cs Of foundry iron made last week
~ IA territory east Of h Allegheny
Mountains prove {" have been nearer
10000 than 10000 tuus. a. several con
tracts ecrc placed late on saturday.
The ,olis Of In" market IL stronger AZ
Buffalo and also III eastern Pennsyl-
vania, with the tendency toward higher
prices. as two of tho large selling In
terests at Buffalo have sold their entire
furnace capacity for the current year.
Some stocks IA tho lake district, how
ever, are still offered for early ship
incnt, probably 20 .onO tons at various
grades are available. ON. feature OF
considerable interest n the demand for
foundry iron for delivery over tho sec
ond quarter OF this year. indicating that
90.
posed to havo requirements covered are
still IN the market. several sales Of
spot iron were also made by Buffalo fur
naC.s for Eastern delivery.
Manufacturing interests in New Eng
land, especially in Massachusetts, are
understood to hay closed additional COM
tracts Tor foundry IRON a~ggregtting he
tween l",0Oo and 10000 tons for ship
mert over the last half Of 1916, Very
little Ot this tonnage is reported to have
gone to Buffalo furnaces. In fact. one Of
the largo producers in the Buffalo Sec
ton during the current mont has sold
only abou 2 to 3 per cent. Of sales as-
gregating $4,000 tons for delivery In
New England. Canadian founders, how
ever. have heen large purchasers OF
basic and foundry iron from furnaces
this side OF tho great lakes.
Tho record breaking rat" AZ which
steel companies are op~ aliug keeps the
alloy market IN excited condition be-
cause OF the continued active demand
for both ferrouIauganesc aud spiegcl-
eisen. several additional sales al these
alloys have been made for shipment over
the first half Of 1871, on IN" basis Of
$40 for so per cent. manganese. while
sales of spiegol have been made at prices
ranging from $50 To $40 for 20 per cent.
for shipment over the last half OF this
wear. This Is an advance of from IS to
SIS per ton in spiegel. Ferromanganese
for carly shipment II almost unavailable.
Some small lots have sori rs high a. ~
cents a pound for prompt shipment.
Several new inquiries Tor foundry
making grades Of pig iron came into the
market yesterday for Eastern delivery.
making a total of about $1,000 tons now
under negotiation for shipment over the
last half OF the year. Including steel
making iron about 80, 600 tons are under
negotiation In the local territory. In
0uirles Tor export are smaller Ooth III
number and tonnage. Most OF the for
.ign inquiries are for steel making
grades,
The enormous demand for steel bars.
plates and shapes was reflected yester-
day in an advance of 50 a ton on bars
and shapes and 81 u ton on plates by
the Carnegie steel Company. which IL now
quoting 10 cents for bars and shapes
and ..75 cents for plates for shipment
AT the corN eniencc of The mill. II IL
stated that non of the steel Corporation
subsidiaries are selling steel at pre-