The Ely miner., 1921-09-16
IRON AND STEEL
SITUATION.
MARKET IMPROVING SAYS MEN
OF THE EAST.

There is distinct and definite inn
provement in the iron and steel
business. There is improvement, or
better sentiment, in many directions
which reflect encouragement or ben
eft upon the whole industrial struct-
ure. The revival of the industry
is slow, but it appears to be build
ing upon a sound foundation.
Rogers, Brown & Co., discussing
the iron situation, say in part:
'Sales during the past week are
equal, if not greater, than those
made during any like period this
year. There have been no sensa-
tional developments. For the most
part orders are small tonnages, but
the fact that they are so numerous
and originate from such a wide area
of the country is encouraging.
There are also some good sized or
ders in lots of 5000 to 5000 tons.
Furthermore, there is growing
tendency to look ahead. Among
others is one inquiry for 1900 tons
for the first half delivery, but no
disposition has been shown by the
producers to commit themselves so
far ahead. The recently established
price levels appear to be well main
tanned. Merchant pig iron produc-
ton continues unchanged. The loss
brought about by the occasional
banking or blowing out of fur
mace is compensated for by the an
nouncement of some other furnace
resuming operation.
Little gain in melt is reported
and there is practically no change
in the situation since last week.
The chief activity is in ne stove
industry, while the general foundry
and other lines are running on
limited schedule. There is a freer
movement of iron, however, which
would indicate that stocks on the
consumers yards are diminishing.
Excepting for the Improvement in
the stove industry,s the melt in the
New England territory has been es-
pecially light, but plans were being
made for more activity after Labor
Day. Some of the pattern shops
there are running full and prac-
tically all have felt revival. Much
of the work is being done on new
patterns, while in many instances
sets of patterns are being dupli-
Gated, looking toward real volume
casting production in the near fu-
ture.
"The broad interest is not only
geographical, but is also notable in
the grades of pig iron, as well as
the ferro manganese and spiegel-
eisen purchased. Hand-to-mouth
buying of flour spar is also appar-
ent.
Interest in coke is growing. An
Eastern copper smelter purchased
thousand tons for September and
there is another inquiry out for q
500 tons per month for six months,
beginning October, of the same
grade of coke. Two or three in
quiries for blast furnace coke, have
established the fact that with the
coke industy at present reduced
rate, there are only few oper-
ations in position, to handle large
tonnages for early shipment. For
the most part, interest has been in
foundry grades for prompt ship
ment."
The Mathew Addy Company also
have something very cheerful to
say about the Improvement which is
now going on in the iron industry.
They say in part:
Gas compared with the earlier
months of the year, August has
shown a distincts Improvement in
new tonnage. Business is really
better. We have been through such
a long siege of slack demand aud
falling prices that it seems about
too good to be true, to record that
demand has increased and that
prices are sitter. The real fact of
the matter is that the stocks of raw
materials held over from the after
war boom have been exhausted and
it is beginning to be evident that
stocks of finished goods are no long
er large-in fact in some lines they
have disappeared.
Buying has been, and still is,
of the precautions kind. Up to the
present a consumer was tolerably
certain that the longer he could
postpone buying the cheaper he
would get what he needed. But
the time has come when the melter
of iron really needs it and the pro-
spects of a fairly decent fall trade
are day by day growing better.
There has not been enough OF an
Improvement as yet to make any
one enthusiastic, but there has been
sufficient to perceptibly tighten the
gloom in which the Iron Trade has
been shrouded. In fact pro-
nounced optimism is evident, an op-
timism that sees gradual return
to fair tonnages, a slow and steady
gain. Of course it would take a
miracle to save this year,-1921 is