Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-17
INCREASE IN STEEL
BUYING REPORTED
Hand.to-Mouth Policy Aban.
doned by Some of Larger
JobberS.

NEW YORK, September l7-Scat-
Jared evidences of breaking away from
hand-to-mouth buying, the FIRST de-
viations from that policy In many
months. constitute the feature Of the
weeks news in iron and steel, Iron Age
will say tomorrow in its weekly review
Of the industry.
mo sweeping change in the attitude
~ the trade has yet developed" the
review states but the fact that any
sizable forward commitments should
be negotiated, or even considered, Is
sufacient to give the market more
euoyant tone.
Pig Iron Buying.
"willinsness to contract ahead has
thus far been most notable among pig
from BUYERS, with a number OF large
consumers covering Tor tne reinanosI
az the wear and In a few cases through
the first half of 1881. Details Of trans
actions are being closely guarded, but
recent sales are known to include three
of 1000 to 10000 tons, while inquiries
in various parts of the country embrace
nine of $500 to 10000 tons, the larger
one calling for steel-making iron.
"Since no marked increase in the
fow of iron and steel to major con-
Suming outlets appears imminent the
broadening of demand is attributed to
the belief that prices have struck bot
tom and that liberal purchases at the
present level will prove a good invest
n1ent.
"A manifestation of the same con-
Victjon Is seen in the efforts of some
Of the motor car makers to place con-
tracts covering their requirements in
automobile parts through the frst six
months of next year.
"c5reater conservatism rules among
BUYERS Of finished steel. More than
half Of September has passed without
bringing an appreciable gain in aggre-
gate bookings. The steel industry's OPP
erations, as measured by ingot produc-
ton. remain unchanged at So per cent
of capacity.
Is an increase in demand for sheets
and strip Thus far in September,
specifications for strip steel have been
10 to 90 per cent larger than IN the
nrst half of August, while the leading
sheet producers volume OF orders last
week was the best since April. A fair
amount of contracting is reported also
especially in sheets.
Jobbers Re-enter Market.
Scarcely any of this gain in business
q attributable to the automobile indus
try; 1t Is accounted for mainly by the
re-entry into the market of jobbers and
miscellaneous manufacturing consumers
who have been rightly restricting their
inventories in recent months. Among
the various lines represented are makers
Of steel barrels and drums, builders OF
ONCE and store equipment, nlanufac-
turers Of radios, typewriters and cash
registers, and fabricators of farm equip
nnent. An interesting new, although not
vet large, outlet for strip steel is the
manufacture of equipment and fittings
for miniature golf courses. which are
also taking considerable pipe.
Tin plate specifications are undi-
nainished and are frequently of an ur.
gent character. Can companies In
drought areas find that they have over.
estimated the damage to crops and ar,
pressing tin mills for deliveries"
Awards of fabricated structural stee
In the past week totaled about 25,00I
tons and included substantial project
In the South and West. New project
totaling about $4,000 tons came int
the market.