The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-09-07
EXPORTS OF STEEL
PRODUCTS ACTIVE
Foreign Shipments of Some
Pig Iron Are Also Re-
ported as Large.
WEEKS INQUIRY Is GOOD
Exchange Situation Is Said to
Be Responsible for Hold
inc Back British Trade.
sp.c.nl pespatch TO Tnr srx.


and in some grades of pig iron, such as
,ou phosphorus iron for Italy. Inquiry
has been very good this week. Roughly
seured exchange is at the following
discount. Sterling, II per cent. francs,
as per cent. Tire, A6 per cent. The
,or,narison is better made, however, by
taking reciprocals showing how much
premlum the foreign buyer must pay
for goods. compared with the cost If ex-
change were at gold parity. These pre-
mIums can be put at: British, 16 per
esnt French 81 per cent. italian. 81
nor cent. When the Italians buy, al
though having to pay double prices, so
N sneak. It is evident that they need
material badly and quickly.
There are definite advices that a
considerable volume of iron and steel
business destlped for the United States
Is being held back by British buyers on
account OF the exchange situation. APP
pareutly that means that the prospective
buyers expect an early trend toward
parity In dollar exchange in London.
II was reported this week that 3d.
900 boxes OF export tin plate were Of
fered to American mills by a buyer
who asserted that it would take below
a. Plttsburg, to meet prices quoted by
Welsh mills, and the business is
likely to be alloweJ to go to the
welsh mills in CONSEQUENCE. japanese
business of 10000 tons of light gauge
black sheets, all one size and only two
gauges material that could be rolled
on either sheet or tin mills, is offered.
Shipment is wanted well before the end
Of the year and no mill seems to be
70 FOL the u-hnlA al
though 1t is possible that the business
may be placed by splitting it up.
August Plate bookings Large.
Although August is normally a poor
month for tin plate bookings, as the
specifications against food containers
are placed much earlier, the bookings
last month were very good. The leading
interest for instance, had total book
ings of tin plate equal to considerably
more than months full capacity, al
though there was a fair volume of new
orders. With about one more month like
l August that interest practically would
be taken care of for the remainder OF
the year, Its tin mill operations are
running at about 92 per cent and the
tonnage is fairly good against the num-
Der OF mills Operated. None of the
mills shows any disposition to consider
business for next year, and 1t is i'm
probable that anything along that line
will be done until the middle of October
Of the earliest. Buyers have not begun
to show much interest as yet.
The iron and steel market is begin
hihg a new month, the first month OF
the fall buying season, and the influence
Of a probable strike among the mill
workers is dying out. Buyers therefore
are feeling easier as sellers throw out
teelers as to trade needs and demands.
The Presidents call for truce in labor
matters was no surprise to iron and
steel men. Buyers and sellers therefore
are ready to act marketwise on the basis
that there will be no serious labor
troubles and therefore no. interruption
to production. There has been some dis
position to buy but much of the inquiry
has been turned down because the mills
Gid not wish to obligate themselves fur
Their Now they will be more ready to
sell and, as September always brings
more activity the general vacation sea-
Bon being over and buyers disposed to
cover their remaining requirements for
The rest of the year activity in the
market is predicted by men who know.
Sheet Mills Are Busy.
About 80 per cent. of the sheet mills
OF the country are in operation and most
OF those idle are so because OF needed
repairs and changes to machinery. Ton
mage outputs at sheet mills have inn
proved trihe, but still are not en-
tirely satisfactory at many works. The
men are showing a moderate amount
OF diligence, but are not altogether as
Keen as normally, which is true of day
mel and tonnage men, the case of the
latter being the more remarkable as
,ney seem to be content not to make
the extreme tonnage, or pay, of which
the are capable. While the mills gem
orally are sold up for the year there is
some vacant capacity in certain lines,
including blue annealed sheets.
PRODUCERS Of scrap are in several in
stances holding back and other cases
selling as usual, but as rule those
shat nave facilities for storage ara keep
ing their material. To many producers
such course means inconvenience or
expense and they are letting their scrap
" II does not appear that the dealers
'o accommodating any scrap, but are in
sue market to the extent that they have
VnoH contracts to hll
IH iron demand is decidedly sluggish
Sut prices hold firm, as there is no SELL
.ns pressure. On one hand furnaces in
swuaton are comfortably sold up On
,% e o.her there is no encouragement for
rle furnaces TO get into blast, as it
.vulu De difficult II not impossible TO
N ~ d backlog tonnage sufficient to justify
S Sowihg in. Should the market display
So'usd signs Of activity, the case would
inherent and there might possibly be
ure. 90 0N'' is piess-
v,r me bottom of the marketN ConneIs-
shI MY furnace coke for spot or prompt
oniplnent Seems to be $475, with many
Uperd'oFs sticking fast to IS as their
n '',.,num. 1t is not certain that any
.1I"1S lie, tonnage could be had at
10 and 1t seems improbable that the
~ could be done for shipment over
40 eHalnder of the year. Some brands
sa ioundry coke have advanced further.
"s clat was held at 1925 being held
~ '.oO' and there have been sales at
s n,%e price which represents very good
80 Tor particular buyers. Only about
~, per cent. Of the foundry coke shipped
'ne Connellsvllle region is going in