The New York herald., 1922-06-11
Coal Prices Getting Firmer.


The Connellsville coal market has
been stiffening almost continuously in
the last week. reaching firm level of
1926 at the end of last week. and then
later. sales OF $3.50 to 1915 being re-
corded. Consumers are buying freely
enough to stiffen the market. yet it Is
said they are restricting their purchases
this month as much as possible so as
to save whatever they can by the 10
per cent. reduction in freight rates that
goes into effect July l.
The turnover in Connellsville coke in
the open market continues light. On the
whole there is no material change in
the volume of demand or in the guam
tity OF coke offered for sale Increases
that have occurred in production in the
region appear to have been by furnace
interests or by merchant operators hav-
ing contracts on which to apply extra
coke, so that the offerings in the open
market are not increased. Furnace coke
has been moving in relatively small lots
at about 81. while it is reported that
$3.50 has been paid for foundry coke.
Sales in the last week have been largely
for account of two or three Eastern fur
naces, which are buying through brokers
or merchants.
Satisfactory specifications have been
received by the leading interest on sheets
this week. Their announcement of last
week that prices would continue in force
urtiI August l postpones the formal
opening OF books for the third quarter,
and leaves sheet prices unchanged. al
though some of the Independents are
quoting IS a ton in advance OF those
levels. All grades are in heavy demand.
ard the inflow OF automobile tonnage
continues unchecked. The leading in
terest's general average for sheet mill
operation is unchanged at about 90 per
cent. with the independents running at
about IS per cent. Of capacity.
Tin plate buyers obtaining supplies
ir this district continue to place fairly
large orders from time to time. This
applies particularly to some OF the
larger can makers A great many buy
ers. however. are closing on a carload
or two at a time The American Sheet
ard Tin Plate Company has received a
large number OF orders since its an
rcuncement that sfT5 per 100 pound
box would continue for the remainder
OF the year 20 manufacturers and over
the third quarter to iobbers. these or
ders coming from both manufacturers
and iobbers. Around s5 per cent repre-
aents the general average OF the tin mill
operation. with a few Of the indepen-
dents running fulL among them the Nc
Keesport Tin Plate Company. the stand
ard Tin Plate Company. and the Trum-
bull weirton and Liberty Steel COM
psniee Follansbce Brothers plant,
which had been Idle because of broken
shaft. has resumed operations In full.
steel Wire Trade sIsckens.
wire and wire products continue 10 be
bought. although the aggregate tonnage
being booked Is not ~ large ss u was
a few weeks ago. when spring busi-
ness in oarbed wire and fencing made
uc the major portion of the orders writ
ten. Tonnages of plain wire are being
booked by certain mills for third quar-
ter shipment. although several concerns
stiIi refrain from committing themselves
that far ahead. The price involved In
the third quarter business Is 2.25c base
Pittsburgh. the same a. the prompt
market price.
Plates and shapes are now on even
terms with merchant bars as regards
prices, and the range of the market IN
COO. TO lS0c There does not appear
&c be any seller outside of the United
Gkpfes Steel Corporation. and u ~ not
very free In its offerings. even for late
deliveries. There are sellers AZ i.7oc.,
ard this price is being paid for various
deliveries. perhaps IN some cases for
delivery as late az September. For July
delivery an ordinary buyer could not do
rsvch better than i.s0c.
Pipe mills are well sold M on butt
weld sizes. and sales are stiil well In
exccss Of shipments. Indicating that the
mills are adding to their obligations.
The largest sizes have been relatively
slack. but with the line pipe inquiry