The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-06-22
BUYERS OF STEEL
RENEW CONFIDENCE
Show Less Disposition to Make
Purchases in Hand to
Mouth Fashion.
MELT HAS INCREASED
Spot and Prompt Coke De-
mand Is Good and Less Pig
Iron Price Cutting Exists.
Ep.cial p.sreseA % tn. soy.

Special Despefch 70 THk spN.
PrrrsBuRo, June 21.--The demand for
foundry pig iron keeps up right smartly
and there Is also some demand for mall
liable, but in Bessemer or basic there IL
very little inquiry. Individual orders
for foundry iron have been larger this
weak than for several weeks past. which
IL m Indication that buyers have more
confidence In the market and. therefore,
arc less disposed to confne their opera
tons to hand to mouth buying. II 10
the universal opinion here that the melt
Of foundry iron has increased very con-
sIderably In tho last few weeks. The
change Is observed by sellers OF pig
iron and foundry coke. In the latter
there is a very good demand for spot
and prompt. and there has been moder-
ately free contracting for the second
half the year. Fewer furnaces than
formerly are cutting the regular or rec
ognized prices for pig iron. The Cieve-
land furnaces withdrew from the Pitts
burg market some time ago. Ironton
furnaces, while cutting the Z. o. b. fur
mace price. do not cut II low enough to
absorb the freight differential against
them compared with the $40 Valley
freight In the case of Pittsburg deliv-
cries Some Buffalo iron is offered still
for Pittsburg delivery, but IL any con-
cession is made from the Valley equiva-
lent It Is only q slight one. Several
detached Western Pennsylvania furnaces
ere making slight concessions. ana one
furnace is making a rather large one.
Al to the Valley: furnaces. they seem TO
be firm on regular prices as to foundry
and Bessemer and there may 10 a little
shading on basic and malleable.
TIE mills in this district are well set
tied on their price of refined iron bars
Of ais cents, Pittsburg. and are not
disposed to shade the price. Their Wow
Is that the cost OF production makes it
impossible TO shade that figure mate
rally. 1t is pointed out that while East
ern and Western mills are selling on n
basis OF 2.35 cents, Pittsburg, they have
the freight in their favor with that bas-
ing and would not think OF shipping into
Pittsburg at such q price with the
freight against them
There have been reports from the
East that the Welsh manufacturers of
Tin plate would send O joint delegation
Of makers and workmen to this country
to study conditions, but II Ia not credit
ed here, as nothing has been said Of II
In trade circles As to widely circulated
reports of American tin plate being Of
fered and actually sold in Great Britain
at less than the prices OF the Welsh
makers our manufacturers state that
they do not altogether see how II could
be done In view Of she British restric-
ton on buying and selling tin plate in
Great Britain. 1t Is we'll known, OF
course, that American tin plate prices
are well below the British prices. but
that does not prove that the material is
being offered or can be offered and ac-
copied In the British market. Tin plate
mills that do black plate business, as
the majority of them do. are having nm
excellent trade in that line in striking
contrast with the light demand for coke
bright plates. The leading interest has
Just received single order for 1000
tons OF black plate. deliveries to run to
the end OF the year, no price guarantee
being attached.
Sheet demand. which has been I'M
proving slightly right along, Is In still
better shape as to tonnage and distribu-
ton OF orders. coming from a wide va
rlsty Of sources. As a consequence of the
heavier demand mill operations during
the latter part of the month will be
easily at greater rate than the average
OF the first half. On the basis of last
weeks production the leading interest is
sod UP for four or five weeks, and as
prompt deliveries are in demand now It
Is desirable to speed UP operations to
expedite deliveries,
In regard to the shortage of labor pre-
dotons are made here that a demand
Io' pig iron at present prices would not
Put in operation more than about so per
cent. OF the merchant furnace capacity,
The remaining capacity being In hand
MED furnaces requiring n great deal of
labor for ton of output Such fur
races, it IS claimed, would have such diff
hculty in obtaining full organizatio -
mat they would have to receive more for
pig iron than present prices to come out
whole. The shortage OF labor looked for
VIII be in common labor rather than
Skilled, according to experts here.