The New York herald., 1922-05-21

STEEL OUTPUT NOT
BLOCKED BY STRIKE
Production More Insistent Be-
cause Of Labor Trouble
in Coal Mines.
PRICES RISE ALL AROUND
Selling Market Takes Place of
One Of Buying-Many Mills
Are OversOld.
PRICES RISE ALL AROUND

Special Dispatch to THE New York HERALD.
PtrTsBURG. May 20.-Despite the
coal strike. steel production has been in
creasing and moreover is insistent be-
cause of the coal strike. The turnover
In steel products is not nearly as heavy
as it was in March and April, but the
current inquiry is urgent and looks to
early deliveries. There is also willing
ness on the part of buyers to enter
third quarter and even fourth quarter
contracts, willingness in which the
average mill does not share. Steel in
got production was this week at rate
well above 37,000,00 tons a year, an
other increase, compared with the rates
of the last three or four months. The
Carnegie Steel Company's Mingo works
have resumed, and the Sharon works
will begin making steel on Monday.
These plants are sheet bar producers.
The steel Industry is moving coke and
coal unusual distances, and new freight
rates have had to be made. In coal
circles, however the steel industry is
referred to as one that has large stocks
of coal. OF the total stocks of bitumin-
Gus coal in the country on April 1. as
reported by the Geological Survey,
about third has been consumed
There is much discussion in the iron
and steel trade as to how long the pres
sure for steel deliveries will last and
a wide variety of opinion is expressed.
That a sellers market has emplaced a
buyers market with unusual quickness,
even for the steel market, has been an
accepted fact for several weeks ana
the only question is how long the new
a q
stiffer all around. Merchant bars are
81 higher at 1.60 cents. Hoops, bands
and strips are commonly quoted at 2.25
cents, representing an advance of SIS
a ton. In all steel products mills are
unwilling to open order books at this
time for regular third quarter deliv-
cries, although deliveries on accounts
of many sales made necessarily will
extend after July /, not a few mills
being oversoid.
The sheet mills still are receiving
heavy demands from many different
sources and buyers efforts to obtain
more extensive shipments on Contracts
are numerous, which is particularly
true of the automobile industry. 1t Is
stated by those informed that at least
five larger automobile producers are
turning out more cars than ever be-
fore. Heavy orders are being placed
from week to week and users are maxi
ing every effort to book third quarter
requirements. No prices have been
announced for the third quarter.
Railroad Orders Coming In.
The leading interest was able to main
tain this week it's 92 per cent capacity
rate. slight increase compared with
that of the last two weeks. Fairly large
railroad car construction and repair Or
ders have been placed lately practically
all car building being well supplied with
orders. and independent sheet mills are
able to keep up an operating rate not
far behind that of the leading interest.
Tin plate producers are holding back
the announcement of their prices for
the third quarter owing to unsettled
conditions caused by the coal strike
They are waiting TO see just what in
creased costs will approximate before
making an intelligent estimate OF future
prices. Customers are assured that they
will not suffer loss in any event, as
specifications for June delivery are due.
The market price on tin plate in the
meantime remains at S4.75 a base box OF
100 pounds Pittsburgh.
Independent producers arc talking OF
an advance soon. They state that il
will be necessary because of increased
v
Operations continue healthy. the Ameti-
can Sheet and Tin Plate Company's
average remaining about the same, Sc
per cent. Certain individual plants
are operating at 100 per cent, which is
true OF several Independent makers
The Wheeling steel Corporations York
vile plant is settling its labor difficult
ties and will be running soon Vat rs
per cent OF capacity.
aI line
largely because of natural causes. sup
ply and demand, but mainly because OF
uncertainty surrounding the raw mate
rial supply. Certain producers arr
quoting 3.75 cents base Pittsburgh in
stead of 3.65 cents on cold strip, a
raise OF SO ton. Those few have in
creased hot rolled strip IS ton. goinr
from a minimum OF cents to 2.25
cents, base Pittsburgh. Certain makers
claim that business is almost too good
certain lots having to be turned down
Certain hot rolled strip mills are out
OF the market on a few sizes. being
bool7nd up till July Demand Is more
diversified than ever and certain users
are inquiring for third quarter mate
rial, but so far as can be learned no
business has been booked that fan
ahead. On certain sizes and gauges oi
hot rolled. more in the hoop classified.
tlOn, as nlBn as N.OV centS is uuOlcu
Interest In sheet Bars.
interest in the semi-finished market
Is largely In sheet bars. and. with more
steel ingot production. the market situa.
ton is less tense than II was two weeks
ago. Mahoning producers are under
stood to be releasing tonnages and re-
suming deliveries on contracts, but they
hesitate still to take on much new bust
ness. few small sales have beer
quoted at S35. Youngstown base, which
appears to be the firm minimum. Sew.
eral inquiries involving up TO 1000 tons
az n time are current here. A slight in
terest i'm rerolling blllets exists and
the few who will quote appear TO be
holding TO S35 minimum for AKA inch re-
rolling billets IL is believed that much
billet business would be placed II tho
material were available.
Efforts 10 trade open hearth sheet
bars for Bessemer bilets have beer
made. The s35 price applies 10 slabs
and a few makers arc quoting diff
ferential of 81 under AKA inch billets
making the price S34. Pittsburgh OF
Youngstown. Forging billets wanted
by several consumers In lots up To zoe
or ESQ tons at time are quoted al