The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-09
PRICES OF STEEL
TEND TO STIFFEN
Bars and Shapes Hop to 1.50c.
Followed by Plates-noops
Firm at 1.90c.

Special DtSpdfch 10 THE NEW YORK tfEaAAD.
PITTSBURGH, April s.--Throughout tho
iron and steel market a strong stiffen-
ing tendency in prices is plainly OBJ
served. Some commodities are definitely
higher while others exhibit d decided
advancing tendency Bars and shapes
reached last week 1.50c as the ordinary
market and this week plates have fol-
lowed to that figure Hoops and hot
rolled strips have become firm al l.3vc.
After free covering movement III
sheets the market Is IN the act of be-
ing established at an advance OF SO i
ton
Labor troubles in non-unlon coal
mines, including those with beehive
coke ovens attached. are proving some
what greater than was anticipated but
coal and coke prices are not rejecting
scarcity. nor is there any stiffening in
prices this week The country is so well
stocked with fuel that only long sus-
pension in union mines. with much as
sistance by strikes in nofl-unioR mines,
would affect seriously the market The
one thing to be noted is the fact that
the strikes in the non-union mines Will
not last very long owing 10 their not
being in a position 10 receive benefits
from the union, and the news OF the
early days of the strike will pertain
principally 70 non-union miners, after
which the main ssue-the strike Of the
United Mine Workers Union members
will be before the public. So far no
effect is being felt in the iron and steel
market by strike conditions, and there
Is no indication OF slaclSening of de-
mand. which appears to get heavier
weekly. Steel producers seem likely 70
exhibit more conservatism in advancing
prices. now that control of the market
is swinging their way than they were
recently in cutting prices. In several
lines price advances serve only to bring
the market up TO cost level. Many OBJ
servers doubt whether or not the actual
rate or steel consumption is sufficient to
support steel production.
The whole pig iron market is exhibit
Ing stronger tone Prices are no
higher. but figures formerly quoted as
representing the general market are adj
hered to now absolutely as minimum
and all furnaces are looking forward TO
advances soon. All or nearly all pre-
ducers Of basic iron insist that they
win not quote below $3.50 and predic-
lions that the next sale will be at that
figure, which would represent an adj
vance OF so cents. are made. Foundry
iron has been selling more freely in the
last week and several producers intl-
mate that they may advance asking
prices 80 cents almost any day The
market remains at its former figures;
Bessemer, $3.50; basic. S1S foundry
s19f o. b. valley furnaces, freight TO
Pittsburgh being s1.96.
There may be many developments in
Connellsville coal and coke before the
strike OF the United Mine Workers i
ended, perhaps two or three months
hence. but the first development in the
market IS a sudden Improvement in the
car situation, whereby loaded coal and
coke does not press on the market as j.
sometimes the case. Thus. automatic
| ally. the market has had a slight stiff
| fleming influence. With a long drawn
l out strike in prospect at the union
h coal mines the railroads become indul-
4 gent In loaded cars and are not dis
posed to exact demurragc. As re-
suit. offerings Of odd lots of spot coke
! at S325~haye disappeared. This week
4 the minimum OF the market. as dis
\ closed by actual transactions, Is $3.50.
/ The customary asking price Is $S.5p-
/ There is no contract furnace coke az
present. Demand for foundry coke has
4 eased as was TO be expected in view q
| general belief In the last two months
\ that foundries were stocking coke
against possible trouble. The coke mar
ket. therefore. appears to be quotable as
follows Spot furnace, s3.4o 70 $3.50
| spot foundry. 1925 to sf.75.
Tin plate mills are receiving speciica-
tions right along and IN the case 81 the
leading interest they are Increasing Civ
ing Ii an operating rate Of at least 80
4 per cent or capacity Most makers have
withdrawn preferential prices below
| S475 a base box OF 100 pounds. Pitts
burgh. and they have been sufficiently
numerous to make that price again iully
representative OF the market. which pre-
sents several aspects Of stability that Il
had lacked in the past. chiefly the ex-
| pectation that the 1922 vegetable and
fruit crops, yet unpaclxed. would be ca
| tremely heavy as farmers are dcvoting
more acreage to planting crops for can
ming than they intended. Several indie
pendent tin plate mills are running prac-
tically full, and from one ear 70 ten cars
at n time are being asked for. while
occasionally even more than that i
bought.
l There Is continued Improvement In
sheet mill operating schedules as re-
suit OF actual orders coming TO hand,
They are for all grades Of sheets typify-
I ing "A diversified demand. which likewise
is fairly well scattered Several large
customers are asking that shipments a.
Automobile sheets he hurried along
A large automobile manufacturer has
closed with a producer here for it's
annual requirements on a basis ive
times greater than ever before furnished
by that sheet maker The American
Sheet and Tin Plate Company Is ur-
derstood to be increasing its sheet prices
So ton. or on the same ratio as inau-
gurated By Independent producers lately.
which Increase now Is fairly general and
makes black sheets 3.l5 cents galvan-
.zed. AIS cents blue annealed, 2.f0
cents fun finished automobile sheets,
$50 cents. base Pittsburgh. The lead
ing interest has 30 per cent. ~ its sheet
mills operating and shipments are con-
siderably higher than at a1y time IN
two years Operations At independents
sheet mills are not FAR behind the Lead
ing interest and increasing daily.
Phone service Breaks Down.