The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-06-19
OUTLOOK OF STEEL
STEADILY GAINING
Trade Journals Report Gen.
uine Buying Movement on
Part Of Manufacturers.

The outlook in the steel trade weekly
grows moro rosy. Journals of the trade
In their reviews to-day declare that q
genuine buying movement by manufae-
| turers Is on and that the inquiry for
steel Of all kinds particularly ship plates
| ana structural steel Is increasing daily
May probably will stand as the month
OF low production in the trade, as in
| most cases the mills already have turned
out sufficient products during that part
OF this month which has elapsed to equal
| the entire May record
The Iron Trade Reptep saws OF thu
situation:
Lacking the telling factor of railroad
| buying to round out the market the de-
| mand for iron and steel is spreading
| to an extent that occasions widespread
encouragement. Were the transporta-
| tion interests free to add their normal
| needs to the present moving tonnage, Il
is not difficult to picture the effect on
the general situation that probably
would result With this principal ex-
ception. buyers in a growing number OF
INES continue to provide more conf
GENTLY for their programmes covering
the next three to six months Mill speci-
ncations are being received on a rising
! scale that warrants some increase in op-
Grafton.
"A genuine buying movement in foun-
ory and malleable pig iron is being car
| ried forward. Cleveland interests in the
week sold probably 100, 900 tons, Buffalo
an equal amount, New York about bo,-
200 tons, Pittsburg $4,000 tons and Chi
oago around that amount The pur-
| chase OF the American Radiator Com
pany is put at about $4,000 tons.
Nnk vh
Pressure IL being brought to bear on
washington by leading shipbuilders for
final declaration regarding Govern
Inent snip contracts The yards have
various opportunities to book private
contracts, some from foreign shipping
interests. and they want to know to what
extent their capacity may be freed of
Government requirements. Some private
contracting already has been done, in
Guiding three merchant boats to the
bethlehem Steel Company and a IA, 600
Ton vessel and six tankers to other At
lantic coast yards"
The Iron Aoe saws. "Inn-oveu.nt
In the steel situation 10 asserted In
| stronger terms this wee&. Mill sched
ules show 1t, particularly in the CEN
Fal West. In number OF finished lines
bookings are larger and the opinion has
been ventured that May output will
| stand as the low record OF the year.
steel insot production fell last month
TO an average of $1,000 tons a day
against 1o9.5Oo tons in April. a de-
crease OF II per cent The May rate
represents about 100000 tons a year,
or about 55 per cent. OF the countrye
capacity
I'm the Pittsburg district steel mill
operations of one large interest have ad-
vanced to 70 per cent rate and
preparations are making for the blow
Ing in of one or two blast furnaces
whereas blowing out has been the rule.
Chicago and Detroit Lead.
Chicago and Detroit continue to lead
In structural work, the largest contract
for the week being for 1000 tons for
the General Motors Corporations Of
fice at Detroit. Another award ia OF
b,255 tons for the Michigan Boulevard
bridge over the Chicago River at Chi
cago In the East for Navy Depart
ment needs awards amounting to $500
tons are expected before July /.
More central Western sheet mills
have reached an operation OF 75 to so
per cent. Automobile sheets figure more
largely than ever. the country's daily
output of automobiles and trucks being
close to $500.
anu ~ OuuCtT mas Deen DOOk-
Ing sheets for export of late at the rate
OF 1000 tons day Wire products are
also, an important item in the export
trade. which in the main is made up Of
moderate tonnages in a variety of lines
Japan and South America are buying
| steadily sale of 1000 tons of heavy
rails to Italy is reported at ass, C. |. (.
Reductions OF 81 to SO in the ocean
freight to the United Kingdom make
British markets to that degree more ac-
cessible TO American steel, rate Of
s17 on finished material from New York
being now available and SIS on pig
iron. From Pensacola a rate of SIS on
pig iron to Mediterranean ports can now
be had. and OF sl4 to Great Britain.
Sales OF Government steel are made
from week to week. In the Chicago dis
trict 10000 tons OF ingots were disposed
of at close TO scrap values, the average
being slightly over $19."