The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-10-30
RUSH TO BUY STEEL
ON FEAR OF STRIKE
Extraordinarily Heavy De-
mand Is Cause of Sharp
Advance of Prices.
CALL STILL CONTINUES
Large Buying Affects Steel
Products, Particularly Pig
Iron and Coke.
CALL STILL CONTINUES

Heavy buying OF steel and steel prod
ucts. particularly dig iron and coke,
has made its appearance since the bitu-
minous miners announced their decision
TO strike on November ! and as re-
suit Of the extraordinary demand for
these products prices have risen very
sharply. Notwithstanding the price In
creases, the demand has continued with
little let up, according to the weekly
trade reviews, ..
'-rhe order of the soft coal miners
union for a strike Of 100000 workers
on November /, whatever may yet be
done to avert actual stoppage," says the
Iron Age. has sharply accented market
conditions produced by the steel strike.
Pig iron has been bought on a large
scale at advances reaching 81 q ton
and In some cases more. Scramble
for coke has sent prices up 81 to $3.50
and in several finished steel products.
following recent advancing tendency,
has come an active demand that has
made the scarcity more general.
'sThe middle West has been the centre
OF action In pig iron and foundry and
malieable irons have been bought heav-
lily for prompt delivery and first and
second quarters OF 1890. One seller at
Cleveland disposed of 10000 tons In
ten DAYS. Buffalo. Western Pennsyl-
vania, Northern and Southern Ohio and
Chicago merchant furnaces have done
most OF the selling. but fair amount
of Southern iron has been taken.
That foundries have urgently needed
iron is shown by shipments to unusual
districts as from Ohio to Buffalo and
New England. from Virginia to the mid
die West and from Northern Ohio to
Chicago. Steel making irons have not
been active, but a St Louis meter
bought $4,000 tons at Chicago for 1920
delivery and 5000 tons from an Ohio
furnace. An Eastern PENNSYLVANIA
plate mill has also been buyer of
basic.
Eject of strike on Pig Iron.
Since pig iron consumption by foun-
dries would be almost as promptly af-
fected by coal strike as would the
output OF blast furnaces, the latest pig
iron advance represents continued Cd.
Grafton of foundries on a scale too large
TOT the current OUTPUT of pig as has been
evident for some time.
Pittsburg mills are working with
practically the same forces as in the
previous week. but slight gains In work.
ing forces have been made at Youngs-
town. Cleveland and Chicago. In the
Youngstown district eight out OF twenty
hve blast furnaces are working, with
nnished material in like proportion, 49,
600 men being employed. The Illinois
steer Company has sixteen out of
twenty-nine furnaces in blast in the Chi
cago district and the Carnegie Steel
Company forty out of ffty-nine.
"A growing scarcity OF cars in all dis
tricts Is due TO the order restricting use
or the gondola type to coal traffic. Ore
movement has suffered In consequence
as Wen as pig iron and scrap shipments
IN me finished steel trade the fear
that their operations might suffer from
Jack OF material has brought more con-
sumers into the market In the last week
Those whose usual sources of supply
nave failed are unable to place emer-
gency orders elsewhere. Jobbers are
having more difficulties than manufat
turing consumers in getting shipments
from the mills
@ Where eteeI billets for forging or
rerollins can be had on new Orders the
price Is IS a ton above the so-caIIed
schedule, 1850. Pittsburg, having been
done In the East for rerolling billets.
rev central Western mills have any
steel to offer,
In finished materials plates and bars
stiii lead the current buying Any mills
able to make deliveries are holding to
zoo cents. Pittsburg, for steel bars
hastern makers have advanced bar iron
30 ton to 2.75 cents, Pittsburg. for
common iron. Plates are firm at 2.6b
cents. Pittsburg, for this year, and one
Eastern company has quoted avs cents
for delivery in 1920. Japanese buyinR ia
still heavy. shipyards there being sold
for months ahead"