The sun., 1919-11-02
STEEL TRADE GAINS
AS STRIKE RECEDES
Production Has Gradually In
creased Since First Week
of Trouble.
PIG IRON STRENGTHENS
Coke Situation Eases on Fed
eral Attitude Toward Tie
up of Mines.
PIG IRON STRENGTHENS
Sp,cial DespafcA 10 The suS.

NDeCtW
PrTrspuRG. Nov. 1.-The iron and steel
strike. Just finishing its sixth week, is
receding rapidly and definitely. Taking
production as down to about a half of
the mills capacity when the first week
of the struggle ended. there has been a
gradual increase every week, and THE
weel: the Improvement in working con-
dtions became more marked. Youngs-
town has been the place where the most
anxiety was felt by the United States
Steel Corporation, and they report mat
tiers as working out splendidly this weSek.
with prospects of a full resumption very
soon. As to the effect of the coal strike
that threatens the country, the steel Of
fcials claim to be able to operate for
two months with the coal they have
stocked. which confidently is expected to
be enough time for the miners and oper-
etors to get their affairs adjusted.
The local pig iron market has grown
stronger and some sales of foundry iron
are reported at advanced prices. II is a
question whether or not such advances
represent merely delivery premium or
advance in basic prices. In basic and
bessemer there is no distinct advancing
tendency, but 1t is expected to come IL
foundry iron is placed definitely on a
higher level. Meanwhile the market is
suotable as very firm on the March 81
schedule as follows: Bessemer. s27.s5:
basic, s25.75; malleable, s26.25q 27.25;
foundry. s26.75: forge, s2575. Those
quotations are (. o. b. valley furnaces,
freight to Pittsburg being s1.4O.
Threats of a general strike at the
coal mines forced sharp advances in
Connellsville coke of furnace and foun-
dry grade. furnace coke having com
handed s6 and foundry 81 to IS week
ego. Since then the stiffening of the
Governments attitude toward the
threatened mine tieup has removed much
apprehension. and the situation has be-
come easier.
Demand for Coke Is Good.
Although demand for coke continues
good rather than heavy and there is
no surplus in the region. the limit of
prices reached during the earlier part
of the week cannot he taken as the
present market There has been some
deficiency in shipments against furnace
coke contracts on account of car short
age and heavier demand for coal. al
though in the majority of cases ship
ments have been up to contract require
ments. off coke has found a remark
ably ready sale, soft coke suitable only
for heating or brass furnace use COM
handing up to IS. The market is quot
able as follows for prompt lots: Fur
mace, 1915 foundry, Sos.
Jobbers' stocks of steel mill products
are beginning to show decided signs
Of being broken, but they are very far
from being exhausted. Thus far 1t is
IN only a few sizes of bars or butt weld
ripe, for instance, that stocks in the
hands of some jobbers are run out. In
nails and particularly in cement coated
nails the deficiency is more marked. |
The strike nterfered with such produc-
ton more than with the production of
any other important steel mills product.
1t is related that some fruit is being
lost in the South through inability to
obtain full supplies of cement coated
nails for boxing. Shipments are stated
to be about so per cent. of normal.
Jobbers have been conserving their |
stocks Of steel largely for regular Gus
toners or their stocks would be lower |
than they are, 1t is understood that |
In general when mills have had occa- |
sion to curtail shipments by reason OF |
the strike reducing their output they |
have curtailed more with jobbers than |
with manufacturing consumers. the lat |
ter being assumed to be more greatly in |
need OF material
Expect No Tin Plate Price Change. |
Although no formal announcement as
TO tin plate prices for the first half Of |
next year has been made, sufficient in /
formation has been gathered as to the
attitude Of producers that strengthens |
the belief of no change being made in |
Tho present 81 price. There were some |
manufacturers In favor of an advance, |
put the number has decreased and the |
contingent in favor OF the advance can
not swing the market. No contracts
have been made for the first quarter, or |
even the first half of the year, but con-
sumers with regular mill connections are |
counting on getting tin plate from their |
usual sources. and of course in allotment |
FORM II there be a shortage. Fully so |
per cent. of the tin mills are in opera |
uon and there is almost a balance be- |
tween operations of independents and |
the leading interest. the latter having
the advantage by about 2 per cent
Many consumers OF sheets and jobbers |
are getting normal or nearly normal de-
hveries, but even they have experienced |
more or less shortage in deliveries dur
ing the strike. Shipments are much |
weeks. The American Sheet and Tin
Plate Company has very nearly a nor
ma! operation of its sheet mills, as 1t is
operating SO per cent, against So last
week and IS three weeks ago. The in
dependents also are operating better
than they did last week, but they started /
out with such light operation that they
are well behind the leading interest. In
dependents are operating 70 per cent. as
many mills as Just before the strike, but
al mat time they were operating only
about 10 per cent.
Sheet bars are in great demand for
domestic consumption and export, but II
Is only on rare occasions that a fair
amount Of tonnage is obtainable. Billets
are not IN much request and the market
~ quotable still at the old price of
soS5O for four inch billets and SAP for
,"o inch. Wire rods for export have
brought $50, and it is probable that a
prem UNI can be obtained in the domestic
market The leading interests quota
non is sun $50, but it has no rods to
vel except to privileged customers.