The sun., 1919-06-15

BOOKINGS OF SHEET
MILLS INCREASING
Operations Have Been Gaining
Steadily Since Middle
Of May.
ORDERS NEARLY DOUBLED
June Production Expected to
to Show Average Of Close
to IS Per Cent.
ORDERS NEARLY DOUBLED
speoiai Despatch 20 Tar suN.

PITrsBuRG, June f4.--It Is estimated
at the present time that the production
of sheets Is slightly more than so per
cent OF capacity, against an average OF
about 81 per cent. during May. There
has been n steady increase In sheet
mill operations since the middle of last
month, rejecting the heavier orders
booked. so far this month bookings OF
sheet orders have been about double
that of the Same period In May, which
was before the Improvement began, but
present bookings are In excess even Of
the higher rate in the latter part OF May
June as whole may show an average
operation of close to 65 per cent.
As to the operation in July. nothing
can be predicted, because a wage con-
troversy may stand in the way OF full
operation. The Amalgamted Association
has made by far the most radical de-
mands. according TO iron and steel men
here. in connection with the sheet scale
that II has made In Its history. Possibly
the demands we're for trading, but as
the mills would be %,disposed TO make
any concessions, It Is improbable that
any settlement could be reached by COM
promise. The conference on the scale
begins on June 81. Sheet prices are
being maintained very well. There is
some shading I'm black, galvanized and
blue annealed, but the least shading IL
in the last named, and therefore 1t Is
probably safe to estimate that moro
than 80 per cent. OF the total tonnage
is sold at full prices. There has been
some shading in prices of plate mill
product by the plate mills. such as cut
prices not being recognized by Jobbing
mills. II a dealer wants to buy at the
reduced prices he must buy from plate
mills and accept plate mill quality. The
material Is not as uniform to guage and
has somewhat different finish.
Several projects have been announced
for new sheet rolling capacity, and 1t is
said that in the next few years there
will be employment for more sheet mills
than are in existence. as there has been
scarcely any increase in sheet capacity
during the war, while the countrys
steel ingot capacity has increased 40 per
cent from that OF 1914.
Heavy Melting Steel Price Holds.
Some mills find themselves with sur
plus steel making capacity because they
have added open hearth furnaces to sup
ply demand for she'll steel and there Is
no finishing capacity to take care of the
possible output OF those furnaces.
The advance in heavy melting steel TO
81, as noted last week, is being well
maintained. and 1t is even said that
$3.50 has been paid by Valley consum-
ers. although not in the near Pittsburg
district Without an exception dealers are
talking higher prices, For q while they
did not think II safe to make short sales,
it being so difficult to pick up scrap, but
now they are trying to induce the mills
to recognize a much higher level of scrap
values on the basis that basic pig iron is
not under about ss5, Valley, which ought
to mean a scrap price of much more than
$40. Bundled sheet scrap and other
grades have advanced more or less in
keeping with heavy melting steel.
There Is no disposition on the part OF
consumers OF Lake Superior iron ore to
make purchases for this season. Earlier
in the year they fully expected prices
would come down and decided not to buy
I'll such drops occurred. Basic ore prices
are the same as those that went into
effect on October !. 1918, the War an
dustries Board having allowed rs cent
advance, effective on that date, to cover
wage advances previously made, while
IS cent advance, effective on July !,
1918. had been allowed because of the
freight rate advance. Present prices are
old range Bessemer S6.4b; old range
nom Bessemer, $50; Mesabi Bessemer
$500 Mesabi non-BessemeF. 1856. Lake
shipments this year have been: April,
l,4l2.239 tons; May, 6.615,34l; total,
s,927,5SQ: 1918, 9.O2S.101. The ship
ments this year have been by the pro-
duccr-consumer class.
In tubular goods there is large VOL
me of line pipe under inquiry. and sew
cral OF the mills are DESTROYS of booking
orders in that direction. The demand for
tubular goods needed in tho oil and gas
heds is heavy. as usual, and pipe mills
are averaging 20 to rs per cent. OF capac-
ity.