New-York tribune., 1922-12-10
Slow Progress
Is Continued In
Steel Industry
Indications Point 10 Steady
Operations Of Plants
Throughout the First
Quarter of Next Year
Better Price Alignment
Standard Basic Pig Iron
Is Settling TO q s2S
Base, Sheet Trade SpOity
s..s.al n..ra,sA .. "a. rrsssa.

- ASSS
steel industry continues TO
- make slow progress, but
without recessions either In prices
or operating schedules. Some slight
price shadings which have occurred
are merely getting the whole level
in better alignment. The Pittsburgh
district reports indicate a steady
operation throughout the first quar-
ter, and other districts give similar
indications. What little hesihncy
there is In the business in Pitts
burgh Is merely seasonal and Is ox-
pected TO disappear Immediately
after the holidays. Favorable wealth
or has prolonged the building sea
son and other factors have also con-
tributed toward keeping the mills
busy.
honinR Valley "a hssitant at this time
though mills are maintaining opera
tions varying from rs to 30 per cent
In the Nahoning and shsnango valleys
comprising the youngstown distreb
thirty-two Of forty-sevsn blast furnaces
are pouring.
Steel prices are settling at current
levels, says President J. A. Campbell
Of the Steel and Tube Company, who
declares they will have to hold as low
as consistent with q fair return 70 the
producer 90 that consumption Is not
discouraged.
Standard basic pig iron is settling TO
s26 base price. Mr.. Campbell pre-
diets sheet bars will be around $3.50
for the hrst quarter. Non-intsgrated
rollers had hoped thst the first quarter
sheet bar price would sink to 3 $50
base.
While there has been a disposition
on the part Of somo sheet interests 70
cut below the Steel Corporation prices
10 obtain sheet business, a S3g.5o price
for sheet bars will preclude such ac-
tion on the part Of non-integrated in
terests to large extent.
Sheets are now moving on basis OF
assoc for blue annealed, S.S6e for black
and 435c for galvanized base cages.
The leading interest is quoting 4.7oc
on full finished sheets. but some Of the
independents arc taking forward busi-
ness al Sc a pound, or ts ton higher.
The sheet market continues irregu-
lar and spotty, with production some
what lower this week. The Republic
Iron and Steel Company Is still operat-
ing its Niles plant on 20 per cent
basis. This week the Felcon Steel
Company added enc more unit at its
sheet mill property and Is now operat-
ing five Of eight mills.
with the contract let by the Car
negie Steel Company for a 100000
shipplng dock east Of the Braddoek
Bridge, on the south side Of the Mo-
nongahela River. the Homestead, Du-
qucsne and Edgar Thomson plants Of
the Carnegie company can ship mill
lions Of tons OF steel by water route.
The new dock will have facilities for
loading 1000 tons a day and will be
ono OF the most modern ever built.
Increased iron and steel production
Is the result Of the resumption Of prae-
ticaily all Of the mills in the wheeling
district, and as result the district Is
now having a greater output than u
has had for many months. Ordinarily
there is a slaekening Of the business
Al this time Of the year, but In Wheel.
ing now the increase is 80 pronounced
that there is decidedly optimistic
sentiment generaly for the future.
The independent mills are IN opera
tioi here almost TO capacity, and the
United states steel Corporation plants
are all working except the La Belle
plant OF the American Sheet and Tin
Plate Company.