The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-04
EXPECT NO GAIN IN
STEEL PRODUCTION
Traders Incline to Belief That
Output Generally WIZ
Continue to Drop.
BUYING SHOWS DECLINE
No Indications That Producers
Are in Mood to Give In
On Prices.
BrYING SHOWS DECLINE
splcinl DespatcA 10 Tnn SIN

Special Despatch 10 TIE Sun.
PirTsBrRo, May 3.-While there was
some improvement in buying OF a few
branches OF finished steel, producers
do not hold that any general increase
IN the rate OF production Is foreshad-
owed. Rather It is thought that pro-
duction will continue to decline. The
main point is seen here that old orders
are playing out one after another and
have been largely responsible for MAIN
tanning such rates OF production as have
obtained When a buyer receives his
last shipment against an old order he
may begin buying afresh, but In ton
nages smaller than he has been receiv-
ing I'D to this time, and thus there can
be an Increase in new buying while
total volume of business being filled Is
decreasing.
Regarding the price stability of the
scrap market dealers felt relieved on
learning of the tonnage of scrap to be
sold by the Government. AS officially
stated BY the American Board of Scrap
Dealers, the total is 453,s59 net tons
or about 100000 gross tons. On the
other hand. the dealers might prefer
10 see a larger tonnage, as It would give
view In Pittsburg scrap circles, in which
there is probably moro information as
TO the size OF war activities than there
Is elsewhere, had been that there the
tonnage would be considerably larger.
Bidding on the material is going to
prove a very interesting problem. Deal
ers have doubts whether a large proper
ton OF the scrap will be allotted to them.
as much OF the material Is at mills
which doubtless will put in bids of their
own SO that by having to take freight
chances the dealers will have that item
against them. Quotations still run from
1850 to SIS.
See No Signs of Price Drop.
There is no evidence here that the
stea producers are in any mood to re-
cede from the quoted steel prices, not
outstanding the fact that the steel pro-
ducers have agreed TO meet representa-
tves Of the Railroad Administration
next week in New York. The opinion
that present prices will be kept is held
TO firmly here. No expression as to how
long they will he held is made, but
many iron and steel men say they will
not change for very long time.
Rail production statistics for 1918
tons FOR replacements on steam tracks.
which. II anything. would be above nor
nal requirements At the beginning of
this year there were 100000 tons OF
rails due the roads at the much quoted
average price OF s36 and that 1900, 900
tons would go far. II not all the way.
toward meeting requirements for the
present year. The humor Of the whole
situation at Washington is the vigorous
demands the Industrial Board has been
making that the Administration indorse
the steel prices and place its orders.
Blu. the administration has no occasion
10 buy much steel now.
The Pennsylvania Railroads lines east
Of Pittsburg have closed a contract with
the Pittsburg Coal Company for 1900
tons OF coal day for the remainder of
the coal year to April 1. 1920. at sass,
the regular circular price OF the Pitts
burg district. as well as the price under
Fuel Administration control. The trans
action is regarded as representing a sig
nal victory for the Pittsburg coal OPP
erators. There was no higher asking price
than that one for steam coal at any
ume although there has been some talk
OK higher prices being asked for gas
coal No higher price has been obtained.
because according to the circular three
quarter Inch coal would DO rs cents pre-
MUM more than mine run. and sales OF
three-quarter inch gas coal have been
AZ $3.50 to $3.50. these prices being re-
ga!ded as very satisfactory.
sheet Demand Improves.
The resale market on ferromanganese
IS clearly defined ut $40 to Sis de- |
iiFeTed for so per cent, a decline from |
me quotation previously carried, Sis |
10 N25. As formerly, transactions |
rave been very light in the past few !
days. Resale spieeeleisen IS per cent. |
IS trotable at $40 to $s5 delivered. A |
sac IS just reported at S32 shipping |
POINT, which is equal to about $34 de- |
"Vered. While the demand for ferro-
manganese is light, the demand for |
sp,esc!eisen is still lighter.
Judging by orders received by the |
nils this week, the demand for sheets
IS showing improvement. There has 4
oeea some improvement in electrical and
automobile sheets and a little better
Gondition in general line sheets. The
.emand for all classes of sheets and |
FORMED material required for building
,peFatlons is extremely light, as II has
zen Tor long time. Sheet prices are
'eNs very we'll maintained. There are
some Irregularities, as there nearly al
ways are. The great bulk of the ir-
'esl!arities are traced to two sellers i
ana their conces 'ons need not be ex-
"S''e in order , obtain the amount |
y, business desir"l. On the whole sheet
mar H.'I. u!aeturers a.e gratified by the
sNIhcss the market is exhibiting ,