The New York herald., 1921-01-09
STEEL OPERATIONS
i HOLDING UP WELL
Show Less Falling Off Than
Expected at This Season in
Pittsburg District.
BUYING Is NOT IMPROVED
Independents Are Working at
25 to so Per Cent. Capacity
or Are Closed.

Sreoial Despatch to THE New YORK HERALD
PITTsBURG, Jan. Separations or the
steel mills in this district did not drop
off as much as expected at the close or
last year. The Independents operated
this week at % to 80 per cent. OF ca
nsetv. some of them being closed. whiie
others worked at 40 to so per cent, OF
capacity. The United States Steel Cor
poration. as usual, did much better thah
did the independents, showing an opera
tion of more than 90 per cent. OF capac-
ity, the Carnegie Steel Company pro-
ducing ingots at more than SO per cent.
and the National Tube Company at prac-
tically 100 per cent. For the industry
as a whole this makes q rate or ABOUT
SIS per cent. but rate of 67 per cent.
Of that obtaining during the first nine
months of last year when demand was
heavy, but on account of physical linz
itations the mills were able to operate
on an average of only 80 percent.
Buying of steel products shows no
indication of Improvement and there is
scarcely any at this time. Many guesses
are being made by the trade as to when
the consensus OF opinion being that the
latter part of March or early in April
will see much better conditions. Not all
steel being shipped is going into actual
consumption, as consumers are accumu-
lating some stocks An increase in steel
production therefore awaits a very de-
cided increase in the rate of ultimate
consumption. The old year ended by
seeing on it's last day an equalization
40 ;pla nd tho
Steel Corporation, or Industrial Board,
prices for pipe. Other rolled steel prod
ucts had reached an equalization and
therefore practically the entire fight of
the independent steel market fell within
the limits OF the calendar year. The re-
duced Independent market on pipe was
made by the Republic Iron and Steel
Company on the last day OF the year.
other Independents following this week
with the issuance of new lists.
Little Tin Plate Inaniry.
The independent tin plate mills show
an operation OF about so per cent. of
capacity, with few inquiries and very
little new business coming in. Although
a number are operating n little better
than half, several are down entirely.
keeping the average down to about so
per cent. The leading interest has
enough of a carry over from the last
quarter to enable it to operate at 60
TO 65 per cent. its present schedule. un-
til the middle of March. New specifl-
cations that will take its rolling sched-
ules well past April l are coming in.
Because it is still short of steel bars,
however. it continues to favor it's sheet
mills, otherwise its tin plate mill opera
tions would be heavier. 1t has more
urgent requests for sheets than for tin
plate, but Is rapidly catching up on both.
In n few cases in which cancellations
have been requested they have been
allowed to take the form of suspended
tonnage. the cancellations not having
been accepted. Prices remain I'M
changed at 81 base box OF 100 pounds,
Pittsburg.
Suspension of operations In the auto
mobile industry in the Detroit district
shows its effect In curtailed output of
Independent sheet mills in the Pittsburg
and Valley dlstricts 1t has brought
about complete shutdowns in several in
stances and in others partial ones. AS
a result Independent sheet mill opera
tions do not exceed 80 per cent, and It
Is not believed that they will be i'm
proved for six or eight weeks Had II
not been for the holiday Interruptions
the leading interest would have had three
straight weeks of operation in excess of
95 per cent OF capacity. The 10000
ton inquiry for blue annealed, black and
galvanized sheets for delivery during the
first six weeks is understood to be still
In allegiance. It represents an attractive
lot, although some less attractive sizes
are included It is understood to have
been put out by large oil interest. 1t
is known that only two or three COM
panies can roll the largest sizes re-
quired. Prices continue unchanged at
3.55 cents for No. 10 blue annealed,
4,35 cents for No. 2S black and $40
cents for No. 2S galvanized A few
companies are naming slightly higher
figures.
Scrap Market Quiet.
Although nothing is being sold in the
iron and steel scrap market, ii is prac-
tically conceded that several elements
of strength exist. Several Inquiries are
reported. Although no large tonnages
are represented an encouraging sign is
that several companies indicate that
they are in the market. The Pennsyl-
vania Railroad is the only road reported
taking bids on largo lots, 1t having
closed yesterday bids on 1880 tons.
With heavy melting steel scrap quoted
Mt SIS to $16. 1t is believed bottom has
been reached. IL any revision shall take
place it will be upward. although prices
are nominal i'm the absence of actual
transactions.
New business in hoops and bands is
lacking and the trade does not believe
that even with further reductions in
prices. there will be much stimulation
to business. Some mills have completed
operations against contracts and are
Idle, Reports in circulation this week
were that some Independents were Of
fering to sell hoops and bands AZ . SOc
base. Plttsburg. or 81 a ton less thnn