The New York herald., 1922-12-10
ACTIVITY UNABATED
IN.BIG STEEL MILLS
New Buying Slackens, but Old
Orders Are Keeping the
IN Plants Busy.
Fig IRON DECLINES AGAIN
Semi.Finished Materials I'm
Fig IRON DECLINES AGAIN
Semi-Finished Materials in
Little Demand, With Build
: ing Lines Active.

sseeior Dispatch to THE Ngw York HERALD.
PITTSBURGH, Dec. 9.--The steel indus
try as whole Is operating at fully 70
per cent. OF capacity and producing
about 40. 600 600 tons or ingots a year,
as has been the case for more than two
months. While new buying has been
relatively light for several weeks old
orders readily support mill operations
and customers are accepting shipments
freely.
In some quarters difficulty is expert
enced in believing that consumption of
steel Is equal TO production, which for
two months has been fully 15 per cent.
greater than the average rate in the
six months preceding. However, much
construction work was delayed and it
Is plainly seen that tens of thousands
of dwelling houses in course of con-
struction are awaiting piping. Demand
upon pipe mills for butt weld sizes is
unabated.
Following the reaffirmation last
month by the American Sheet and Tin
Plate Company of prices of $4.75 on
tin plate and 3.35c. on black sheets the
Carnegie Steel Company has announced
prlte of $3.50 on first quarter sheet
bars. While some interests were sur
prised that sheet and tin plate prices
were not advanced some observers are
now surprised that sheet bars We're not
set alta lower figure. The United States
Steel Corporation subsidiary pays she
sheet bar price, the same as outside Gus
toners.
Crowded on Sheet Orders.
The leading interests sheet order
looks are crowded with business for the
xtrst quarter. Its customers are endeav-
orfngsto add to present bookings so that
automatically they will be carried ahead
and protected for all or a part of the
second quarter Other than this new de-
niand- has slackened somewhat, but
makers are satisfied to have a breathing
spell In which to work off old obligatio s.
Specifications are heavy for all
grades, but particularly for galvanized
and full finished automobile sheets.
While on the latter Independents are still
quoting and receiving .0oc, base Pitts
bursk the United States Steel Corpora
fion figure Is 4.70c. Some larger auto
motive interests have bought heavy ton
nages, covering for their entire first
quarter requirements. This includes
several units OF the General Motors
Company.
Prices Of blue annealed sheets are not
so strong as a few weeks ago among
independent producers. more of whom
are meeting the Leading interests figure
OF 2.5pc. Two or three Independents are
qouting below this figure and 3.c5c. on
black sheets by 81 to 81 ton. Gal
vanized sheets are firm at 4.35c. on ac-
count OF higher spelter costs
Good business is reported from virtu-
ally all consuming centers. there being
no letup IN demand for building pur-
poses. Speeialties, too, are moving in
volume. Sheet mill operations are on
the increase, the independents doing
about-66 per cent. of capacity. while the
leadirSg interest is running at slightly
over so per cent. In spite of transpor-
tatfor difficulties shipments continue at
high rate.
There is good demand for tin plate
especially for general line cans, food
containers, &c. Some OF the larger can
companies with annual requirements OF
several million base boxes have filed
specifications for January and February
needs. Independents are intimating
that S4.s5 soon must be their minimum,
ss against the regular $4.75 a base box
OF 100 pounds. Pittsburgh, as recently
announced by the American Sheet and
Tin Pate Company. Not much oil busi-
ness is current. the last order placed
by the Standard Oil Company having
gone abroad. Operations continue at a
fairly. high rate, the leading interest
averaging 10 per cent. with an Increase
expected soon, while the independents
arc rpnning at rate Of So to 30 per
cent