The New York herald., 1922-07-09
PROSPECT FOR RISE
IN STEEL OUTPUT
Trend of Trade Indicates Pro-
ductiOn in Second Half Of
Year Will Gain.
PRICES CONTINUE FIRM
Mills Not Lacking Business
and Some Are Behind on
Their Deliveries.
PRICES CONTINUE FIRM

Special Dispatch 70 THE NEW YORK HERALD
PIrrsRuRGn, July s.-Steel ingot out
put In the half year ended with June
80 having been about 5000, 900 gross
TONS the prospect in the second half
from the trend In trade is for 10000, 600
tons of production. which will make a
good year. indeed. considering the
many drawback cks with which the steel
trade has had TO contend.
Consumption will have to increase to
support the present production rate, and
there is promise of this occurring, at
least for the next two or three months.
In the large quantities of steel manufac-
lures that consumers have engaged to
take. as well as In the freight car and
structural steel orders that have lately
been entered or nearly 100, 900 freight
cars ordered since January only
relatively small number have actually
been built
The steel mills are quite well filed
with actual shipping orders, in most
cases for the next two months and in
some cases for longer periods. The in
creasing quietness in the finished steel
market, leading up to the dullness that
usually characterizes July and August.
nimity by the mills.
Steel prices are firm at rates recently
prevailing. and with delivery premiums
on not a few lines. These premiums
have not increased in the last three
weeks.
In forecasts of the future of steel it
is recognized that the next few weeks
will be dull. but it is a question how
the market will open up for the early
autumn trading. Much may depend
upon whether IL is the buyers or sellers
who are first disposed to act. Stress
Is laid upon the prospects of transpor-
tation shortage in case the country at
tempts to do much more work than at
present.
Sheet Deliveries slower.
A number Of the sheet mills are be-
hind on deliveries from six to ten weeks.
due to hot weather, labor shortage. good
order box car shortages and other
causes. Black sheet deliveries are not
so far behind as galvanized, as 1t is
particularly hard TO get men to work in
the pickling and galvanizing depart
ments in sultry weather This comes
at time when demand is at high
peak and showing noysigns OF letting
down. The demand Is diversified, with
heavy orders being placed by automo-
bile owners. Large makers have ac-
cunulated heavy backlogs Of business,
SO that those buyers who did not fore
see the huge automotive demand prob
ably will find themselves up against a
sheet shortage.
One Michigan automobile builder has
increased his schedule to produce $50
cars a day instead OF fifty. and has .
desire to produce 500 cars day II the
sheet steel can be secured. While Sev-
eral Of the independents have slightly
higher price than that of the leading
interest the latter figures can be
quoted as the market as follows: Blue
annealed. 240c.; black. 3.15c.; galvan-
lied, 415c: automobile sheets, 4.50c
Sheet shipments by the American Sheet
and Tin Plate Company during the first
half Of 1922 ranked fourth among the
first half shipment records of the COM
pany Its production for the last two
weeks has averaged 50 per cent. or
capacity
New buying OF tin plate is rather
light AT present, but the untitled orders
are still heavy. Outside of few large
orders, expected within the next lew
w~ess from certain can makers. new
business VIII be limited until the first
of September. From certain group OF
independent mills. operating less than
300 hot tin mills, untitled bookings on
June / were approximately 100000 base
boxes, so that about ninety days work
is ahead The present high operating
rates-i00 per cent. with some independ-
ent makers-can continue for some time
to come, II is said. The operating av-
erage of the leading interest for the
last two weeks has been rs per cent.
but there will be a drop from now on
for the next few weeks. The $4.75 price
per base box of 100 pounds, Pittsburgh,
continues firm with most Of the inde-
pendents and with the leading interest.
Orders for plates placed at the 1.S0c
figure. announced by some large inde-
pendent producers, are not numerous.
but some are noted at that level in lots
OF 100 to 125 tons for prompt shipment
Other lots of plates are being billed at
tracts carrying those figures still are
being specified against. The chief diff
ficulty OF producers is to keep COM
mitments in line with production ability
The Memphis Steel Company OF Pitts
burgh was awarded 125 tons OF plates
for stand pipe for the Westmoreland
Water Power Company at Jeanette.
Pa.
semi-Finfshed steel Market.
BILLET inquiries are scarce. except for
fDrE ng purposes. Without much basis
n ;tual transactions. the 4x4-inch re-
roll lg billets are quoted firmly at Ss5
rii ourgh or Youngstown. and s37 for
arni Ter sizes. Makers have little ton
raE; to offer Higher prices are being
otsined on forging billets. one inde-