The New York herald., 1922-07-16
STRIKES PUT CHECK
ON STEEL OUTPUT
Mills Have Sufficient Business
to Operate at a Higher
Rate.
PRICES UP In FORTNIGHT
Fairly Heavy Deliveries on
Old Contracts Naming Much
Lower Quotations.
PRICES UP IN FORTNIGHT

orders sufficient to operate at a higher
rate during the next two months, but
production usually declines in July and
august on account of weather condi-
items. and this year there is the added
difficulty of the coal strike. recently
supplemented by traffic difficulties,
which is curtaiiing the movement of coal
from the non-union feds.
y, The Governments proposal of a
formula to end the coal strike has not
created much satisfaction among
producers. A delicate point in the mat
ter is whether the operators OF nom
union mines are expected to partici-
pate in negotiations. Owing 10 conges-
ton on railroads serving non-union coal
fields, aggravated by the railroad strike
coal prices have been mounting sharply
this week.
June was q month in which steel book
.l'gs We're heayier than estimated at the
time. The steel mills enter the usual
dull summer period particularly well
fortified in their order books The steel
market can be quiet for two months
without losing any Of its strength as to
prices. On the whole prices are a shade
firmer than a fortnight ago.
Deliveries On old contracts, placed at
considerably below prices recently
ruling, are still fairly heavy, fact that
Is not taken into account in all trade
circles.
Pig Iron Prices Easier.
The pig iron market fails to reflect
the tightened condition as to coke sup
plies and indeed Is a trif,e easier in
foundry grades, while basic iron Is
euotab!e 81 a ton lower than formerly.
The demand for merchant pig iron has
been decidedly lighter in the past couple
of months than WAS expected. Con-
sumers having sec nd quarter contracts
have been taking deliveries rather slow
1y. whereby IL will be near the end OF
the third quarter before some of the
contracts are completed.
Foundries whose contracts had run
out have been buying in limited way
for third quarter. and have been about
TO purchase without much difficulty at
sea valley, this comparing with a range
OF s24 to s25 quoted month ago. AS
to basic, it has been offered in the past
week at S24, or 81 q ton under the fig-
ure lately quoted.
Connellsville coke has dropped en-
tirely out OF the blast furnace situa-
tion, and is now a factor only in con-
nection with the requirements of iron
foundries and of miscellaneous users.
Coke of ordinary quality. with ash and
sulphur not as carefully scrutlnized as
usual, readily commands $40 q ton in
the open market, and this may be
quoted as the general market for Con-
nellsville coke. 4rfNt
There is more coke demand now from
foundries than there was a month ago
and 1t appears that despite the rather
light operation of many foundries in the
past three months, the stocks laid in
at the beginning of the coal strike are
practically exhausted. Connellsville
steam coal has br ught as high as 81 so
Consumers appear anxious and may pay
higher prices before many days.
Pipe and Sheet Goods In Demand.
Considerable pressure is being brought
TO bear upon the mills for deliveries OF
standard merchant pipe. as well as oil
country goods. Now that Bessemer
plant operation has increased, one
notable instance being the starting up of
the Republic Iron and steel Company's
Bessemer department after an idleness
OF eighteen months. deliveries of stand
ard butweld and lapweld full weight
merchant pipe. in both black and galvan-
ized doubtless will increase.
Jobbers all over the country have
been end are still ordering in a carload
or two at time. and some are placing
Two or more orders weekly. No particu-
garly good tonnages are involved In line
pipe Inquiries or orders, except the
Wyoming pipe line, which has been
pending for several weeks. Card dis
counts of December 10, 1921. still rule.
any change being in favor OF firmness
at those levels.
Demands qlpon the sheet manufac-
turers are heavy and insistent, and pur-
chasers are still more insistent In hav-
Tag prompt deliveries. This cry for more
steel not only is true of the automobile
and truck manufacturing industries, but
other sheet consuming lines as well.
Galvanized sheets for roofing. siding
conductor, pipe. cave trough. &c, ana
sheets for metal lath, as well as otner
Grades used in building construction, are
Neing ordered from every section OF the
country in large quantities, Indicating
widespread buiFhng boom.
A Automotive customers OF the Ameri-
can Sheet and Tin Plate Company are
making repeated efforts TO have II ex-
coed it's promises In deliveries. Since
n has SO many customers. however, these
will do well TO receive their material on
order when promised. as they waited
until the last moment before specifying.
The leading interest as well as some or
the independents are well booked for
July and August. and even for part OF
Septen1ber At least one of the inde-
pendents In the Youngstown territory Is
ouoting the same prices as the leading
interest. namely. 2.40c. for blue an
nealed, 3.15c. for black and 4.15c. for
galvanized sheets; others are 81 TO ~
n ton higher. on full finished automo-
bile sheets, on which the leading inter-
sSts prices Is Assoc. quotations OF some
independents run as high as 4.Soc., base
Pittsburgh. During the week the lead
ing interest regained the 90 per cent.
operating rate lost last week because
of the holiday The average operation
OF the independents is IS per cent
g-, Tin Plate Mills mt Capacity.
Most of the tin plate mills have all
the business they can handle for the
next three months comfortably under
present operation averages Of 80 to s5
per cent. IL is estimated, however, that
upward OF 100000 additional base
boxes OF tin plate. requiring 10000 tons
OF steel. will be placed before October I.
since the corn pack. which usually Is
the largest vegetable pack of all, Is as
yet unprovlded for.
VI Some tinplate producers are running
100 per cent. this number including the
Standard Tin Plate Company. "a tin
mills: McKeesport Tin Plate Company.
~ mills: Liberty steel Company. War
~s~. Ohio. 10 mills: Trumbull Steel Com
,,any. Warren, Ohio, 10 mills. and sew
nral others. At certain plants of the
leading interest 75 TO so per cent. opera
tons arc possible. but labor shortage is
beginning to be felt owing to the hot