The New York herald., 1921-06-19
Little Demand for Wire.


Inquiries for wire and wire products
are lighter than ever. the current cut OF
IS ton not having brought out the ex-
pected volume of buying. Only an occa-
sional order for a carload or less Of nails
and wire is received from jobber. The
leading interest, as well as "a number of
the independent producers, report an al
most total lack of orders, although II Is
understood that the United States Steel
Corporation received an order recently
for 1900 kegs of nails from the Govern
ment for various navy yards at flat
price of SO, base Pittsburgh.
Inquiries for merchant steel bars are
slow in developing, and some makers
have not received any for a considerable
time. with others receiving inquiries that
involve only carload lots and less. While
2c.. base Pittsburgh, appears TO be avail
able. 210c continues as the asking price
Of most large producers. Similar condi-
tions prevail in the refined iron bar
trade, and one regular customer OF n
large manufacturer of that product has
not operated its furnaces since carly In
the year.
AS an indication OF how plate buyers
approach the market inquiry is current
here for $500 to 5000 tons put out by
local steel construction company,
burgh. will not be attractive Virtually
the only Inquiries before sellers of plates
are for specific Jobs, one of these being
the Petroleum Iron Works for approxi-
nnately 5000 tons, understood to be for
tanks TO be furnished to the Sinclair Oil
Corporation.
The semi-nnlshed steel market reflects
conditions in the finished market with
virtually no demand coming out for sheet
bars. billots or slabs. on the part OF
some buyers "a total indifference Is no
ticed. AMI sellers generally contend that
no matter what price would be named
to-day II would not serve TO inspire buy
ing. Sheet producers who buy their
sheet bars And IL unnecessary TO enter
the market and some regular customers
of Valley interests are not even taking
their weekly requirements
sheet Men Arc Optimistic.
Some sellers are offering them at s37
against the general quotation Of $50.
base Pittsburgh. The market Is practi-
calfy untested. however, and no producer
will state just what price tonnage
inquiry would develop. 4 few small
sales Of skelp went recently at 2.20c..
although 2.10c., base Pittsburgh. appears
10 be available IN some directions.
while the future OF the sheet indus
uF rs not bright. the manufacturers
profess 10 be optimistic. This feeling
Is brought about by tho belief that pres
ent consumption is ahead of replacement
demand. At present the new orders
and specifications coming Go tho mills
are by no means sizable. users not an
ticipating their needs far into the future
While the rate OF the Mahoning Valley
sheet mill operations increased slightly
A. the last few days this is said TO be
due 10 an accumulation OF orders which
could be rolled off In a few days. The
automotive industry is not negotiating
with sheet producers for anything after
July J. and In tho meantime IN ordering
only what II absolutely has to have.
Reports Of price concessions continue
20 be heard, but these arc not traceable.
and the quotable prices continue to be
Bloc. for blue annealed. &c. for black,
and Sc. for galvanized, base Pittsburgh.