The sun., 1919-08-11
PRODUCTION OF Pig
IRON Is PICKING UP
Reports Show Active Capacity
Has Increased During the
Last Month.
- AnNNa
GAIN is 100000 TONS
Blast Furnace Conditions Con-
tradict Belief Pig Iron
Prices Will Rise.
GAIN IS 100000 TONS
specinl pe,petca to Tns SUI.

pr-rspvro, Aug. 1o.-Pig iron produc-
,,on is picking up, as indicated by a
accent report made public and showing
,be furnace capacity in blast on July
and on August /. The increase In active
capacity during the month was 20 per
cant. the annual rate having been 26,-
bOO. 900 tons on July and Sl,6oo,ooo
.ors ON August 1. The latest blast fur
nocs report contradicts expressed opin-
tons that pig iron prices are likely to
"dSsnce In the very near future II II
rrown now that the situation Is beyond
,hs predicting stage The Alabama fur
nacss have advanced prices to the March
81 hssls. which means that they ask the
same price (. o. b. Birmingham that
Nnrthern furnaces ask at their, furnaces,
h,,, n distribute their full make South
arr furnaces always have found II neces-
sarv. except during the war, to absorb
freights in order to reach Northern con-
snmng points There has been raise
or a. a ton for next years deliveries by
saveral Chicago sellers. and Cleveland
nroducers last week announced advances
N 90 cents a ton on this years deliver
les The pig iron situation has an Inn
portant bearing on steel price prospects.
pig iron Is SIS per cent. higher than Its
ten year per war average. ana finished
steel prices are 81 per cent more than
their corresponding average, which indi-
Gates that steel prices cannot experience
any general advance without an advance
Of Mig iron, the basic commodity.
Tbe rivet makers some time ago took
under consideration an advance in price
mat has been made effective from the
t;rst of this month. The advance Is -
a ton, making buttonhead structural
rivets $50 cents and conehead boiler
riyets 4 cents. The matter was delayed
for the purpose of booking additional
contracts and the advance Will tend 10
stimulate specifying on contracts. Small
rivets are set at 60-10-6 per cent on
standard list Consumption of rlvets is
of moderate proportions. Consumption
nv shipyards is somewhat less than dur
ing the late months of the war, but
consumption in fabricated steel work Is
on the increase. Operations at boiler
shops are relativel light, but there Is
fair value of actin ity in tank construc-
ton, particularly for the oil trade.
INLET Offerings Are Scarce.
There are not many offerings Of billets
in the open market and there Is not
much demand for them except OCCASION
ally for export. 1t is reported here that
n YOUNGSTOWN mill recently sold large
tonnage for export to Great Britain.
The absence of demand for billets ap-
pears to be due to customers being well
covered on contract, as there Is mod
erately heavy consumption by mills
which do not produce their billets. In
MANY instances the consumers have
favorable contracts compared with the
oren market price. but thatscondition is
normal
offerings of sheet bars are light
tightening up the situation. because
there Is good demand all the time. IN
addition to open market transactions OF
last week, two lots of $500 and 5000
tons respectively. consuming interest
p producer of sheet bars, Is said to be
ready to close at once for 10000 to 49,
OOo tons for shipment over the remain
der Of the year at the full schedule price
and in some optimistic circles there can
be found predictions that sheet bars Will
sell soon at a premium.
Wire rods are In fair demand In do
nestle and export markets A sale OF
1000 tons of rods for Canada at $50,
makers mill, the regular domestic price,
Is reported, but it Is said that Canada
10 being quoted generally the export
price OF $50
Exp?rt demand for tin plate Is i'm
proving and Is distinctly better than 1t
was a month ago. II is regarded as
more or Iess probable that exports will
be- maintained at about the rate of re-
cent months--about $4,000 gross tons
month The heaviest demand Is from
South America, hut inquiry from France
and Italy is developing. Compared with
the Welsh producers, exchange rates are
against the American producers In the
case OF South America. but the differ
ence in actual prices makes up for them.
Tin plate pr ices In the domestic market
are well held. and producers assert that
they see no prospect of decline In the
immediate future. Broadly speaking,
the present tin plate rate of 81 is based
on 60 cent tin, and the market is re-
Garded as not unlikely to advance to
that level from the present basis of 81
10 50 cents for tin for importation.
Sheet Mills Are Busy.
In sheets 1T is said that the American
Sheet and Tin Plato Company will not
open its books for first quarter business
before November, according to the COM
pany's usual practice except that when
It is oversold it opens its books usually
earlier in proportion TO the delay. but
the settled policy OF late has been TO
avoid any possibility of being oversold
and that policy will be carried out The
company operated 80 per cent. OF its
sheet mills last week and about 90 per
cent, this week. A few mills are idle
on account Of repairs and some needed