Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-08-30
STEEL ORDERS
TAKE UP GRADE
AS TO NUMBER
Do Not Increase in Size
Immediate Delivery
Asked.
BASIC GRADES STRONG
special to Indiana Daily Times

Special to Indiana Daily Times
and Philadelphia Public Ledger.
PITTSBURGH, Aug. 30.-Orders for iron
and steel continue 10 increase in number
but do not increase in size, nor is there
ordering for forward delivery. which Is
taken to indicate . lack of confidence In
the present price list. Prices continue
irregular, with concessions here and
there Immediate delivery invariably is
asked indicating that many consumers
have allowed their stocks to run very
low. One important local producer re-
ports that specifications received thus
far this month are twice those of July.
Another feature is a stronger market
in the basic materials. The advances In
pig iron have been maintained and higher
prices have spread to other pig iron mar
kets In scrap iron, coke and steel
further advances amounting in a number
of instances to 81 a ton have been es
tablished in the last week. This
strengthening of the foundation of the
market structure naturally is looked up
on as a constructive move.
On the whole finished steel prices have
been better maintained, but concessions
have been rather wide in sheets, and in
unfinished steel sheet bars have sold at
$50, with better demand. The long de-
cline in steel prices is nearly ended in
point of extent, though perhaps not in
point of time. Any further decline that
may occur will be spread over con-
siderable period. Some buyers expect the
market TO decline to $50 for bars and
81 for shapes and plates, but this is held
TO be impossible until freight rates are
reduced materially.
The higher prices of pig iron announced
a week ago are maintained in this dis
trict, while the Chicago, Philadelphia and
Buffalo markets have followed by marking
up prices, not always to the extent of the
81 advance here. Several merchant blast
furnaces are considering resuming on
foundry grades.
The 4. NJ. Byers Company may relight
its furnaces at Girard, Ohio. while the
American Rolling Mill Company and the
Thomas Iron Company each are planning
to start a stack and are in the market for
September coke. The Trumbull Cliff
Company, Shenanga Valley Furnace Com
pany and Cherry Valley Iron Company
are planning to start one furnace each.
Finished lines generally show a slow
increase in demand, ali for prompt de-
livery. Demand for both steel and
wrought iron pipe slowly but steadily IS
increasing. The A. NJ. ByerS Company
started up twenty-five pudding furnaces
and muck bar mill at its Girard Plant.
There is a good demand for wire nails
and inquiry for barbed wire is picking
up. Sales to jobbers by American Steel
and Wire Company are now about so per
cent of normal for this time Of the year.
The American Sheet and Tinplate Com
pany during the week shipped to so per
cent capacity in sheets. but as some ma
terial was shipped from stock, operations
were restricted TO about A. per cent.
In structural lines some work post
poned months ago is again coming out.
Prices on shapes and plates apparently
have stiffened to a minimum of SIS.
Fabricators have placed bids for a bridge
across the Allegheny River at Sixteenth
street. which will take 1000 tons and for
an addition othe department store of
Joseph Horn & Co, Pittsburgh, involv-
Ing about 300 tons. Lehigh Valley Rail-
road is inquiring for repairs on 1000
composite. 1000 hopper and 1000 box
cars.-Copyright, 1921, by Public Ledger
Company.