The New York herald., 1922-02-12

was sold for less than IS, while a little
OF 1t brought $3.l0 to $3.15 for the
present quarter. but that schedule Is not
for what Is called strictly contract code.
Various consuming fines furnish
widespread demands for sheets in the
Pittsburgh district. Small lot purchases
continue to rule in the trade rather than
large tonnages for any one buyer. Sew
eral large lots for automobile sheets,
however, are under negotiation, princi-
pally in Michigan. Automobile sheets
continue to carry a 4.35 cent price, base
Pittsburgh, and makers who specialize
in their manufacture report very fair
demand. Black and galvanized sheets
are at and cents, respectively al
though concessions on limited warehouse
stocks OF galvanized or ON stocks which
mills wish to liquidate are obtainable.
More blue annealed business has been
placed with sheet makers at 2.25 cents,
base Pittsburgh, In the last two weeks
than in any preceding weeks.
Mill Operations Unchanged.
NH operations continue at an aver
age of between 45 and so per cent. of
capacity. The American Sheet and Tin
Plate Company, the sheet mill opera
tons Of which fell off somewhat in the
last two weeks. continues to report the
receipt of fairly numerous orders for
all kinds of sheets. Japan buys inter-
mittently, mostly black sheets OF thin
and heavier gauges. and that business
remains the export sheet trades feature
There is heavy buying of spot tin
plate, and most large users are booked
up extensively on future requirements,
but there is a noticeable lack of for
ward buying New purchases by con-
Nsaft 20
the like, however. are sufficiently large
to make Gin plate the leader of all steel
products from an operating standpoint.
The general average again has been In
creased until about 70 or rs per cent
represents the operating rate. The lead
ing interest is understood to be keeping
approximately S5 per cent. of its tin
mills engaged while the leading inde-
pendent is slightly below that figure.
The market price Of tin plate remains
unchanged at S4.75 a base box of 100
pounds. Pittsburgh.
Several efforts to develop a price
lower than LAO cents, base Pittsburgh,
on 1000 tons or more of structural
shapes, made recently failed and from
lao to 1.50 cents represents the general
market. The higher level is quoted on
unattractive tonnages. Estimating de-
partments are active, considerable ex-
pansion being planned, but lettings are
few.
The appearance of an inquiry for 500
tons of sheet bars brings to light prac-
tically the only negotiation for semi
finished material recently before makers
here. Activity in sheet bars and billets
is practically at standstill. Although
Il is reported that S2S, Pittsburgh. was
quoted on that lot. that report cannot
be confirmed here, makers stating that
500 to $50 represents the quotable mar
ket, although $2s is appearing else
where. notably in the East. Even at
S2S. billets are inactive and only an oc-
casional small lot of forging billets is
moved at S32.
Skelp is quoted at 1.5O cents. base
Pittsburgh, but as plates have sold for
as low as 1.40 cents that price is more
or less nominal. On most wire rod In
uuiries $50, Pittsburgh, is quoted, al
though certain makers insist that s3S is
still their quotation. Below S36 is done
on export business. although on ship
ments for export $50 offer recently
was refused by q large maker here.
E,xport tonnages run from 500 to 1000
tons.
Demand for standard merchant pipe
by no means offers a substitute for tom
nages of line pipe. casing, oil we'll
country goods. &c, placed several weeks
ago. Those lines are inactive. Standard
weight pipe is going forward In ordi-
nary jobber specification quantities, one
or more carloads at a time, to keep
stocks we'll balanced. Pipe mills are
able TO operate at about 20 per cent OF
capacity, which will be increased mate
rally when the spring squirt in oil
country goods shall come. The card
discounts of December ) are for the
most part flrm and satisfactory to buy
ers.
Lower quotations are prevailing in the
steel scrap market, but they are largely
uninteresting to users and dealers with
yard stocks accumulated at high prices.
Railroad coil and leaf springs, couplers
and knuckles. low phosphorous billet and
bloom crops and steel punchings, sheet
bar crops. iron and steel car wheels are
down so cents. Heavy melting steel is
down 25 cents ton.