The New York herald., 1922-11-12
STEEL IS HELD UP
BY CAR SHORTAGE
Industry Continues Operations
at 20 to IS Per Cent. Of
Capacity.
SHEET BUYING ACTIVE
Delivery Premiums on Bars,
Shapes aid Plates Dis
appear.
SHEET BUYING ACTIVE

Special Dispatch 70 THE NEW YokK IizsAlD
PrTTsRuRGu. Nov. 1.-THE steel In
dustry continues 70 operate at 20 TO 75
per cent. OF capacity, there having been
no important change for more than a
month. Supplies OF open top cars arc
barely sufficient TO move current pro-
duction requiring such cars, but as
rule the current product is moved while
something has been done toward clear
ing OF recent accumulations. Box cars
are made scarcer by the recent iustruc-
lions Of the American Railway Associa-
tion that cars in the Last owned by
Western roads be returned.
The only definite price developments
in finished steel products in the past
six weeks have been the disappearance
OF delivery premiums on bars, shapes
and plates. the decrease In delivery
preu1iums on sheets, and the advance OF
October 10 on welded steel tubular
goods, an advance that was long over
due. II IS rather generally expected
that bars, shapes and plates will be at
below their present level OF 2oOc. before
there IS another general buying move
rnent, while sheets. tin plates and tubu-
lar goods are not now marked for de-
clines. there being rather "A possibility
OF advances occurring.
Taken as a whole, the finished steel
markets arc quiet as to actual turn
over, but there is general business
going in sheets and tubular goods. and
there Is good movement IN steel for
sailroad rolling stock. II IS estimated
hat in the first ten months OF the year
orders for railroad steel have aggre-
eated 4,500,00 tons, including 1,S00,-
coo tons for car building and car repairs.
Lack OF Cars for Sheets.
Sheet buyers have been so active In
placing orders that some OF the manu-
facturers are filled UP to their entire
capacity to produce 10 the end of Feb
ruary, although prices for the first quar-
ter OF next year have not yet been an
nounced. While this is particularly true
of automobile body sheets 1t likewise
IS true of black and galvanized, and as
q consequence sheet producers probably
win have to allocate their output, not
knowing where to obtain enough steel
TO meet fully all demands.
To the end that better service be rem
dered its customers the American Sheet
and Tin Plate Company is endeavoring
20. find out where it best suits its trade
10 defer shipments until January or Feb
ruary, which are due in November and
December. With 4 slightly improved
steel supply, operations have improved
about per cent over last week. but the
box car shortage is so severe that some
buyers of galvanized and other grades
have reluctantly Issued permission TO
ship in goudolas, the sheets TO be COW
cred with tar paper and tarpaulins. The
labor shortage also has been "A handicap.
each OF the several mills In this district
being short 500 and 800 men. While the
leading interest is practically out OF the
market through being sold up their
prices are the market basis, as follows:
Blue annealed, 2.50c. black. 3.S5c.; gal
vanized. 4.35c.: auto sheets. 4.70c. 4
price announcement for the first quarter
Of tho new year is expected any time
Stock tinplate is in good demand, be-
cause deliveries of production are so
much deferred. and since stock plate
figures are so attractive. many Of the
producers wish their stock lists were
larger. They have been absorbed
greatly during the last ten days, so that
while around s4.65 and s4.7o a base boz
could be obtained, most users must
await production. Orders already
booked In some cases take In every
thing that can be produced in Novern-
Der ana l)ecelnDcTs duu III IL lew vases
beyond that even. The present market
price OF tinplato is si75 a base box OF
100 pounds. and q. s. ton advance IS ex-
pected in some quarters. The leading
interest is expected to issue a price an
Eouncement for tho first half to manu-
facturers very soon one or two of the
big oil companies recently have been
purchasing fairly large quantities OF
tin plate. Operations are maintained at
about 20 per cent. with the indepen-
dents slightly above the leading inter-
est.
shippers of hoops and bands are Ia
vored by weather conditions In their
ambition 10 clear their order books
within sixty days OF accumulations.
New business includes only small lots.
Prices continue unchanged at 2.9oo..
although as high as 3.25c- often Is
quoted and received upon the narrower
sizes and thin gauges.