The New York herald., 1922-08-20
Good Call for Buttweld Pipe.


New pipe business is going to old
customers by preference in this district.
In view of intermittent operations and
the difficulty in getting present obliga-
tions on mill schedule. producers are not
considering new business to any extent.
Demand for buttweld In building sizes
Is strong. and on this grade mill obliga-
tions are usually extended six weeks
ahead While orders for lapweld from
oil producing interests have been re-
tarded somewhat because OF price cuts
In crude oil, new leases are being de-
veloped from time to time which bring
out new business. Lapweld pipe pro-
ducers are booked comfortably ahead
for about five weeks. Pipe makers gen.
erally hesitate to enlarge their commit
ments because of the uncertainty az to
the operation of mills.
Prices of tin plate for fourth quarter
delivery are in question in view OF
mounting costs of steel and fueL IN
trade circles IL is strongly rumored that
newt nuartcr's prices will be considera-
bly higher, and that announcement to
this effect is not far distant. A short
age of open-hearth sheet bars con-
fronts tin plate makers. but despite this
fact certain producers show a disposi-
tion to accept business at SAFE per base
~
delivery date In an insignificant factor.
Stock tin plato is bringing s465 per 100
hounds in some cases. while other max
ers contend that the full market price
Is being generally observed. Mills are
covered sufficiently to fill out the present
quarter, and there will be some orders
carried over into the next quarter. TIL
plate mill operations as whole are In
the neighborhood OF 65 per cent. OF ca
pacity.
In the ircn ard steel scrap market
prices are steady In spite of the absen, ,e
Of important deals. Steel works con-
s,lmers are beginning TO inquire more
freely for heavy melting steel and mis-
cellaneous grades. but appear TO be In
no hurry to close on offerings unless
bargain prices are mentioned. The list
offered by the Pennsylvania Railroad re-
Gently was absorbed almost entirely by
Yards Shovel turninrs have advanced
10 a range OF SIS to $3.50. a few car
loads having sold at the maximum fg-
ure.
A few sales OF ferro-manganese nre
negotiated now and then. but the UNDER
tone of the market appears quiet. in
view of curtailcd steel works operation.
However. three inquiries. involving 1900
tons Of this alloy, came out few days
ago upon which n price of SIS C. |. T.
Atlantic seaboad was submitted. This
figure represents the market. although
old customers ar" being served with the
metal at lower prices.
carload of resale spiegeleisen is be-
ing offered this week Mt s3s. Baltimore
On account Of the difficulty IN obtain
Ing coke at reasonable prices and in
sufficient quantities. about the only
maker of spiegelesen In the running
soon will be Obliged to suspend opera
tlon of his furnace. which Is now melt
Ing on stock pile fuel.
The pig iron market continues to be
a narrow affair, involving spot or very
prompt deliveries only. Consumers do
not know how much pig iron they will
be able to use In the next few months
Some have stocks. others have iron due
them on old purchases. The only mar
ket activity there Is comes from n con-
sumer here and there seeking n rela-
lively small lot to cover immediate ne
cessities. Sales In such cases arc practi-
cally made out OF furnace stocks. and
as these stocks are small and poorly as
sorted. prices advance now and thea
without difficulty. The market Is nom
inally quotable as follows: Bessemer,
s27 basic, S25 foundry. s2S: mallc-
able, $40. These prices are r. o. b. val
~ furnaces, freight to Pittsburgh be-
Ing s177!
The foundry coke market has stiff
fened again. SIS having been obtaifed
In some cases for good grades. There is
Of course. no contract market In coke
and the spot market stands quotabe
substantially as follows Furnace. SIT
to Si4.J0: foundry, SIS to $3.50.
The Connellsvlle coal market ruled
strong last week at $3.50 for steam
grade, with higher prices occasionally
paid, and Is running at the same level
this week.