Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-30
STEEL PRODUCTION
FIGURE IS STEADY
But Price Structure Shows
Further Weakness, Says
Weakly Review.
BY the Associated Press.

By the Associated Press.
NEW YORK, April 30-Price weak
ness in iron and steel has become more
pronounced, Iron Age will say tomorrow
in its weekly review of the industry
The total steel ingot output, 1t adds,
shows no significant change, being at
rs per cent of rated capacity, compared
with 80 per cent a week ago, but buying
Is at extremely short range, mill sched-
regular and interrupted and pressure
tonnage to sustain operations is in
creaSing.
price stability" the review states,
"extends to the primary materials.
Scrap markets have grown still weaker,
with heavy melting grade down Is cents
a ton at Philadelphia and st. Louis.
Chicago pig. iron has receded so cents
a ton. Alabama foundry iron, which
had been expected to react to the larger
melt Of cast pipe ships, has been sold
in certain Northern sections at new
low price of sl2, Birmingham.
Corporation Announcement.
"In view of the general weakness Of
the market, the Steel Corporations an
nouncement that it looks for contin-
uance of an 80 per cent rate Of steel
ingot production throughout the quar-
ter is encouraging. In terms of tonnage,
the rate of raw steel output for all pro-
ducers has been higher in the first four
months than the average for any pre-
vious year except 1928 and 1929. How
ever, the percentage rate has been lower.
because of expansion in capacity. and
business has been unevenly distributed,
both geographically and in terms OF
products.
Railroad demand is subsiding, while
automotive requirements are creeping
up and additional pipe line tonnage
is being placed. Steel consumption by
farm equipment manufacturers is I'M
diminished. Seasonal requirements Tor
roadmaking are promising, but Spring
buying of merchant wire products has
been disappointing and demand for
roofing sheets appears to have passed
its peak. Structural steel awards, at
$4,000 tons, are the largest since early
"A Central Western gas company has
nlaced 725 miles of % and "A inch
seamless pipe with the National Inoe
Co. for a gas line from Texas TO MIN,
neapolis and st. PAU; WIN r laVS n,s,i
units to be contracted for later, IL Will
require 100000 tons Of steel
GAS measured by structural steer
awards for the week, totaling $1,000
tons. slight seasonal gain for building
construction is becoming apparent: Inns
total was the largest OF this pupnCa-
TONS weekly compilations since the
middle of February.
Composite Prices Lower.
sNew contracts include $500 tons
for two New York subway sections,
6.70o tons for an insurance building IN
Milwaukee, 5000 tons for an insurance
building in Philadelphia and 1900 tons
for oil storage tanks for the Pure
Oil Co.
ed to the pending list. Outstanding
projects are $500 tons for elevating
New York Central tracks at Syracuse,
N. Y: $500 tons for a mill BUILDING
for the Weirton Steel Co., at Weirton,
w va: 5000 tons for high school IN
Chicago, HOO tons for pier "a at lOl
wall Street, New York, and 5000 tons
for a bridge at Jacobs Greek, Pa"
Both composite prices OF the Iron
Are are lower. Finished steel Is 2.Z4z
cents pound, against 2.263 cents tor
the past four weeks, and pig iron Is
sI7.67 a gross ton, against $l7.75 for
eight weeks.