The New York herald., 1920-12-02
STEEL QUOTATIONS
ARE MORE UNIFORM
For First Time in Several
Months Prices Show Sem
blance of Regularity.
NEW TRADE INSUFFICIENT
Largest Rail Year in Decade Is
Predicted for 1921 by
Iron Age
NEW TRADE INSUFFICIENT

Relatively heavy cuts in Independent
producers prices Of steel products. uneS-
pectedly drastic in some cases. have been
the chief factors OF the industry during
the last week. In some cases announce
nlents of a new policy have Bsen made.
Other producers have contented them
selves with revealing their new prices In
direct competitive transactions. In many
instances independent steelmakers have
ONE down to the level of prices main
tanned by the United States Steel Cor
poration since March of last year, al
though many products are still quoted
above that level For the first time in
several months there is some semblance
OF uniformity OF prices in the industry
generally. Those facts were brought out
yesterday in the weekly reviews of the
industry.
General reductions in the prices OF in
dependent steel companies" says the
Iron Age, have come in the past week.
In some cases announcements have been
made that the Steel Corporations prices
would be met. In other cases the reduc-
tions have become public through the
meeting of Steel Corporation prices in
actual transactions. Prices above the
Steel Corporation level still exist on a
number of products. The situation Is, in
brief. that Independent producers are
getting more money for products for
which they still have fair sized contracts
products on which the corporation is
rather fully booked.
Some of the reductions came along
rather promptly after the Steel Corpora
statement a ted n
change in its prices. bars being the first
to get to the Industrial Board basis. But
thus far none Of the cuts have had any
effect on buying: in fact, some sellers
have made no effort to take business on
the new basis, being more concerned
about getting the higher figures on un-
filed orders. At the same time it is
realized that these orders will not last
long and cancellations have cut into them
seriously
The situation as to rails is still much
discussed in view of the lagge orders
already placed and the probability that
1921 will be the largest rail year IN
decade. with total well above 3.000,-
600 tons Seeing that the total CON
sumption of the heavier rails in the six
full years since 1913 was 100000 tons
below that of the preceding six years
II Is not surprising that standard sec
tion orders for 1921 are running more
than 20 per cent. larger than in recent
years.
The Iron Trade RevtetU says: For
the first time in practically twelve
pronouncement against any advances by
months the iron and steel market pre-
sents something approaching "a condi-
tion OF price uniformity. The official
the Steel Corporation a week ago. as
expected, has done more to clear UP
the ambiguous price situation long ex-
listing than any single development In
many months. With the initial an
nouncement of the Jones & Mclaughlin
Steel Co.. November %. there has
been inaugurated a rapid retrograde
movement among independent producers
back TO the schedule. approved March
81, 1912 by the Industrial Board and
which. except in wire products and one
or two other lines. has been followed
consistently by the leading steelmaker.
with equality of price competition
restored IN various mill products. the
volume of new business brought forth
from waiting buyers as yet has been
unmportant. Some tonnages in bars
are reported to have been booked by In
dependent manufacturers at the new
basis, but this has been EXCEPTIONAL In
fact. few expectations are entertained
of any substantial broadening OF new
business until the market passes from
its present excitable stage to one OF
more assured stabilization.'