Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-23
DEMAND FOR STEEL !
EXPECTED TO GAIN
Sentiment in Industry In
proves, but Business Is
Still Small.

NEW YORK. July Sentiment IN
the iron and steel trade has improved
more than business or plant operatto
Iron Age will say tomorrow In its week
ly review of the industry.
The opinion Is gaining ground" the
review states. that industrial reaction
is at its worst and that the only Dos
sible change is for the better, but actual
gains In mill bookings are too small and
too scattered to be significant. and steel
ingot output is unchanged at Sc per
cent for the third week.
The heat wave has further reduced
operations among certain iron and steel
consumers, notably foundries, and addi-
tional two-week shutdowns Of n1anufae.
turing plants tend to Offset the effect Of
resumption by those reaching the end Of
their vacations
Gain IL Forecast.
when the period of industrial sus-
pensions has been finally passed, iron
and steel demand will doubtless fulfill
expectations Of betterment. The extent
of the gain in bookings, however, Is dif-
f1cult to forecast, since so much depends
upon the f1ow Of consumer goods to the
public. Inventories of both raw mate
rails and finished products at iron and
steel consuming plants will prove small
or large as the rate of general business
activity determines Several manufac-
turers of this class which have been
idle for the past two weeks have re-
sumed operations in a very limited way.
THE movement of sheets and strip
to industries outside of the auto
mobile field Is somewhat larger, and
makers of those products serving the
Ford Motor Co. have been able to in
crease their schedules somewhat But
most of the favorable news Of the
week is negative. The lack of i'm
portant price changes In scrap and
pig iron and the putting out Of addi-
tional blast furnaces are construed 40
further evidence that the bottom has
been reached, or is close ct hand.
Alabama district than at any time
since January, 1922.
steel prices are still highly irreg-.
ular, but do not show such widespread
weakness as a few weeks ago. The
price of $40 cents. Pittsburgh, on gal
vanized sheets, which had been con- ;
fined to large jobbers, has been EXTEND
ed to other buyers. Tin mill black
plate is off 81 a ton and long ternes
have declined 50.
Pipe bookings have been swelled by
the placing of $50 miles of 24-tnch
5000 tops) with the A. o. Smith
Corporation for the second section of .
gas line from the southwest TO chicago.
The pipe for the first section, 4S0 miles,
was ordered from the National Tube Co.
some time ago. About 500 miles Of pipe
remains to be placed but probably win
not be awarded this year. Manufac-
turers expect to book additional pipe.
line tonnage within the next month or
two, since a number of protects are
still pending and others are being.
planned A gas line from New Mexico
into Arizona calls for 280 miles Of 10-o
inch.
Box. Car Purchase.
1.-THE Minneapolis g. st. Louis has
bought 500 box cars, but the railroad
equipment market remains unusually
quiet, with pending business totaliner
less than 5000 cars" i,
Structural steel awards for the past
week were $1,000 tons, or q little above
the weekly average for the year, at
$4,000 tons. New projects totaled 22,00o.
tons. mostly in small tonnages.
The Iron Age composite prices re-
main unchanged at the low levels of the
year. reached last week, pigiron being
$17.09 a gross ton and finished steel
2.171 cents pound.