Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-26
IRREGULAR MARKET
FOR STEEL NOTED
Mixed Tendencies Indicated
in Weekly Survey of
Trade Paper.
BY the Associated Press.

By the Associated Press
NEW YORK, March 26-Mixed tend.
enctes In prices, production and book
ings characterize the iron and steel
market as the end of March draws
near, Iron Age says in It's weekly re.
view Of the industry.
Recently announced advances On
heavy-rolled steel products" the re-
view says, contrast sharply with re-
newed weakness in fiat-rolled products.
Higher quotations on pig iron in the
valleys and in Alabama for Northern
shipment are out Of harmony with the
persistent sensitivity of prices in other
centers. Even scrap, traditionallv the
bellwether of all iron and stAel nrod,,cts
has latterly lost its position OF leader.
ship in price movements. In the face
OF continued dearth of activity in
most grades of old material. such
changes as there are lack consistency.
evidences of strength at Pittsburgh con-
trast1ng with weakness at st. Louis and
Detroit and mixed trend at Chicago.
MIL Operations Irregular.
steel mill operations are irregular.
With both increases and decreases re-
ported, and raw steel output for the
country at large Is unchanged at 81
per cent, bringing to a halt the un~
interrupted expansion of production that
began in the first week of january.
But lun at this juncture may have
no particular significance, in view of
the changing character Of steel de-
OF seasonal activities.
It Is now clear that construction
Work VIII contribute materially to mill
Scneoules in coming weeks and the
treno OF automobile output, II less GER
TAIN, Is nevertheless distinctly encoIIr
aging. Fabricated structural steel let-
tlngs, at $4,000 tons, are of record
proportions and the large amount Of
pending work has been augmented by
inquiries for 81 900 tons. Demand fnr
reinforcing steel is also expanding with
inquiries for $4,000 tons and iettinTs
totanng $500 tons. and business in this
product VIII show further growth As
highway programs get under way.
Line pipe bookings of the week are
connned to 5000 tons for a 5O-nile
Texas project, placed with the Mil-
Waukee Fabricator, but a very large
pipe tonnage Is before the trade and
nkely 70 be translated into orders In
the near future.
The promising outlook in construc-
ton doubtless encouraged the recent
advances TO Ito cents, Pittsburgh, and
1-SO cents. Chicago, on plates, shapes
ana bars for second quarter Since the
new prices do not go into effect until
April i, buyers still have an opportunity
TO cover their needs at ]. IS cents. Pitts
burgh. To what extent this price win
govern on Second-quarter tonnage also
uncertain, since first-quarter cons
tracts at 1.60 cents were extended BY
some companies before the Carnegie
announcement was made. Moreover.
many buyers who have first-quarter
contracts have not specified in fun
against those commitments and may,
II they wish, order out SUFFICIENT steel
70 carry them part way through the
next three-quarter period.
Advances NuIIifed.
Recent advances in strip steel have
been nullif1ed to large extent, except
so far as. spot prices are concerned, by
the acceptance Of considerable second
quarter tonnage at the old market
levels. In sheets, the decline Of q week
ago on automobile body material has
been followed by q $2-a-ton recession
on black sheets and steel furniture
stock, bringing the FORMER down to 225
cents and the latter to $50 cents
A decline in black sheets brings the
Iron Age finished steel composite price
to 2.128 cents pound, from 2.142 cents,
where 1t had held for 10 weeks. Pig from
is unchanged at $15.7I gross ton, and
faAn all fVan -