New-York tribune., 1922-02-26
Buying g Volume
I'm Sheet Steel
Is Broadening
Improvement in Operations
Throughout Pittsburgh
District II Noted: Mills
Make Good Showing

Make a Good Showing
PITTSBURGH, Feb 25-Anticipated
improvement during the latter part or
February in the sheet industry IS be
ginning to manifest Itself, and busl-
ness IS in broader volume. Operating
schedules arc on larger basis than
at any tine tins year. Sheet buying
IS coming from a variety of sources
In general, operations throughout
the industry in this district are I'M
proved. 1T the mills Of tnc United
states steel Corporation in Homestead.
Braddock, D0nora. Sharon. Nandergr5ft
and Duquesne schedule improvement *
reported. Open hearth departments
and the plate mills arc showing
heavy tonnage. Structura. mills arr
making a good showing. and it is ro-
ported one Of the big blast furnaces AZ
the Duquesnc plant will be blown in
soon.
The most esignAcant aspect Of the
price situation at present is the BELIEF
Of number OF leading inde pendents
that prices on many finished lines.
particularly shccts, are due for An ad-
vance. They point to the deficits In
curred by independent companies iast
year. IS revealed by tneir 1922 state
mcnts, IN substa ntiation of their con
tention that current quotations are toe
low, in vieu Of costs.
Buying May Boost Prices
II is certain that sheet producers
Will take advantage Of any situation
which may arise to mark Up quota
tons, and any sustained buying move
ment in volume is quite likely to be &C
companed by higher prices Current
pickup is attributed TO the numbc,.
rather than the sine of the tonnage
coming through, though this, too. IL
on q broader scale.
Nails and wire products are sharing
in the moderate buying movement
which is apparent, but this n1arkt *
handicapped perhaps more than any
other BY price uncertainties Whereas
nails are nominaly quoted at s250
larger consumers are reported to be
selling down from the nominal mar
ket OF S2.25 per one hundred pounds
Were il not for this unsettlement, the
leading Independent maker believes
that considerable volume Or businesg
would noH be coming out.
Another price development 81 Tire
week is the definite decline in tin
plate to $3.50 per base box. from 81 10.
which has been The nominal quotation
for two months. At present, tinDlate
IS the strongest among finished lines
The principSl independent has untitled
orders which viii engage its capacity
through March.
Strips Moving Freely
Strips are likewise moving freely. 4
Youngs town interest has sold sub
stantial tonnage for conversion into
automobile Tenders. Though hot strip
is being sold down by Competitors.
this company Claims TO De maintaining
-
table at $3.50
In the basic pig iron market some
difference of opinion exists as to
actual prices. Several Mahcning yal-
ley producers say they would not SCI
iron under SIS. while another interest
recently i'd STD on standard basic
and says 1t is readily purchasablc 3.
this figure The Allegheny Steel in
Quiry for 600 tons represents the
principal business before makers
number of steel works in the
Nahonine Valley arc expected to place
tonnage for scrap metals during the
next TWO weeks, in view OF larger
steel output Buying has been limited
the past month. An indication o. the
situation IS found in the TACT that
Youngstown buyers are bidding Sf225
for compressed sheet scrap, against
recent lor o SLID.
The threatened coal miner=' strike
is having some inalence On business,
hrt on in 2 small way. 4 has un-
doubtediy flmed the coal aad coke
markets. and mum her o. intercsts
are quietly buving fuel against a pos
sible disruption on April /.
improving Plants
Ire YoargstoY Sheet and Tube
Company has completed the installs
tion OF electric drives, replacing steam.
on eight Of is fifteen sheet mills. and
IS improving the balance Of the com
OF We Mahoaing Valley indepeu-
dents. Trumbull steel presents the
strongest operations, and number o.
its de astrlents arc a. 100 Ger cent
All seven o It's open hearth furnaces
are charged. Twelve OF is tinplate
units are ten a0o.ar.ly ialc owing t.
mechanical difficulties. but would other
nine-;nch and aixtee0-ina', strip mills
are fully occupied. Republic Iron ans
Steel has added four sheet mills to It's
or giual schedule calling Cor eight
more. tnus operating ,we-ve o. cigh-
teen mills
Followi'sr a prolonged suspension
the 7aan,ring Valley Steel Company a,
Mics nss .lve hot mills IN production.
UNusu records Of output are be
ing est:-tIshod by the new b.ast fur
mace OF Il Trumbuil- Cliffs Furnace
Company Joint subs iary Of the Trum-
bull Stcel Company, Warren, and the
Cleveland Cliffs fro1 Company Cleve-
land. Since February |. two weeks
after initial operation, the stack has
produced an average of over 600 tons OF
iron each twenty four hours, to 1850
pounds OF coke per ton OF iron. On one
day in this period its production
reached III tons. The furnace was
lighted January l6. commenced pour
ing thirty SIX hours later. From its
current performance it promises to be
come one OF the biggest individual pro
ducers in the country. Most Of the hot
meta, is now being consumed in the
open hearth furnaces Of the Trumbu,l
company
Makes Cost Survey
leading Youngstown independent Is
completing a survey in an effort to
stil further cut down costs but finds
little more can be done in this respect
so thoroughly had the processes OF
liquidation been carried out. This has
included elimination of employees
wherever possible. reduction Of wages
and cutting o. salary lists. Any sav-
ing in production costs which may be
Effected through. reduced freight rates
has already been discounted. say