The New York herald., 1921-04-24
ALL STEEL PRICES
ON SAME BASIS NOW
Leading Interest and lnde-
pendents Together for First
Time in Several Years.
PIG IRON STILL INACTIVE
Nails and Barb Wire in Good
Demand-Orders by Gamers
Show Increase.

Special Despatch to Tnr New Yosk HERALD.
PITTSBURGH, April 23.--For the first
time in several years there is an equal
lied market in steel products, the inde-
pendents having advanced prices while
the United States Steel Corporation was
making reductions. Few finished steel
commodities were left untouched in the
price readjustment. Wire nails were left
al tho 1926 price or the Industrial Board
schedule. all other quotations being re-
duced, and the average on all, including
nails, is reduction of between 50 and
$6 a ton.
Only for the compare lively brief pc
RODS since the Industrial Board adjust
ment OF March 81, 1919 have the indie
pendents and the Steel Corporation been
on the same basis. The independents
prices were under those of the corpora
tton in April and May. 1919, and in
February and March of this year, while
late in 1919 and almost through 1920
they were above, their sales at higher
prices greatly exceeded their sales at
lower prices.
1t can be said that the steel market
ss stabilized at least for time. The
Steel Corporation is indisposed to re-
duce prices further of its own initiative,
unless signs should be seen of a demand
that would not express itself at present
prices
With their recent experience the in
dependents arc indsposed now to de-
part from the established prices They
rounded UP a considerable volume Of
business as they withdrew the old prices
and have better operation than at the
beginning Of this month, when they
were doing close to 80 per cent, de-
spite numerous estimates to the con-
trary.
As to the Steel Corporation, II Is In
line 20 receive heavier specifications
against contracts. and when it's opera
tions dropped TO 40 per cent. or a shade
less last week ii was probably round
ing the turn. No new buying Is devel-
oped by the new price schedule, nor
was any additional buying expected,
Consumption Is expected to increase as
labor matters on the railroads and in
the building trades are adjusted to an
equitable basis.
Pig Iron Market Sluggish.
The pig iron market is as inactive as
ever, and prices are not quotaoiy
changed. There is, however. less talk
than formerly of there being further de-
clines. and there is even some talk al
ready OF possible advances In one grade,
that OF basic iron. There are fewer
producers Offering basic at $23, Valley.
than formerly, but a buyer would prob
ably have no difficulty in finding all
tho s23 basic iron he cared TO take.
While consumption Of merchant iron
n light, 1t is probably in excess Of its
production and II is fair presumption
that the consumption is now eating into
the stocks, though at no rapid rate. The
market remains quCtabie MS follows:
Bessemer SIS basic. S23 foundry, SIS
nlallcabe $50. These prices are (. o. b.
valley, freight to Pittsburgh being si.96.
The coke market continues altogether
inactive. the occasional sales OF furnace
coke and the few sales of small lots OF
foundry coke not being referred TO as
showing any degree of activity. Market
prices for coke are well established, and
there is no issue between producer and
consumer as to prices. Those who do
not buy coke now refrain from buying
because they do not need the coke.
Foundry coke maintains its stiffness in
the face of an extremely light demand.
no operator showing any disposition to
sell it at loss. No sales Of really stand
ard foundry coke have been made at be-
low SIS. while some favorite brands
bring $3.50. The general market Is
about as follows: Spot furnace, $3.50:
contract furnace, 1915 to $4 spot foun-
dry, s5 to $500; contract foundry, s5
TO $3.50.
There seems to be good demand for
nails and galvanized barb wire, and Or
ders for the former are fairly numerous,
which Is to be expected at this season of
the year. Most OF the business Is being
booked at s3.25, the uniform price
named by the independents and the
leading interest. the American Steel ami
Wire Company. The latter did not re-
cede from this level, and action by inde
pendent producers has strengthened the
buyers confidence. A fair demand cx-
lists for woven wire fencing. which is
quoted at 60h off list, as well as for
coated nails. which are moving more
freely at 2.S5c.. base Pittsburgh.
Packers Ordering Their TIN.
Although there are some additional
specifications on tin plate being received,
II cannot be set down as a result OF the
recent reduction from 81 to 1926 base
box of 100 pounds, Pittsburgh. Ship
ments are largely going from stock both
to packers and can makers. This 1926