Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-16
STEEL PRODUCTION
DECLINE IS NOTED
Restriction in Plant Opera
tions Reported by Week.
Iy Review.
Nv the Associated Press.

BY the Associated PreSS.
NEW YORK, July 16. - Widespread
Industrial shutdowns for vacations and
inventories, together with the generally
Door business conditions in most steel
consuming lines. have further restricted
steel buying and plant operations, Iron
Age says in its weekly review OF the
iron and steel industry.
Although erratic schedules make 1t
difficult to estimate the rate OF steel
production for the industry as whole,
the review SAYS, the average at the
moment is not above 81 per cent o1
capacity compared with 33 per cent
week ago. with slight curtailment likely
before the end of the month. Present
activity is only little above the low
point of last December.
Operations have gained tribe In
the Chicago district, where one steel
company blast furnace, recently banked:
has been put back in service. steel
company blast furnace has also been
blown at Buffalo. Elsewhere pig iron
and steel production is off from last
week, or barely maintaining the recent
rate.
No Evidence Of Upturn.
Notwithstanding belief of the steel
industry that resumption OF manutac-
turing bv many steel consumers in
August will bring a moderate improve
ment In replenishment buying. there
is no evidence yet OF a definite turn up
ward in requirements. Some large ton
nages. particularly for building con-
struction, are overhanging the market.
but there is a disposition to await more
favorable conditions in the general sit
uation before making awards.
''Twn 0lItSta pdip0 orders 20 600
tons of rails for the Norfolk & Western
and $4,000 tons of seamless pipe for
the Atlantic Refining Co. for line In
East Texas Tentative awards of no.
900 tons of structural steel. reinforcing
bars and cables for the Golden Gate
Bridge, San Francisco. have been made.
but formal contracts await the sale OF
bonds for the project. For an elevated
highway in New Jersey l7.100 tons OF
structural steel has been ordered.
"A number of automobile plants are
using up inventories of materials and
parts preparatory to shutdowns. Some
Of these plants will be idle during the
latter half of July. Railroads are TAX
ing very small shipments Of rails. Tin
plate shipments are tapering, though
production is holding at about IS per
cent of capacity. In other lines. ex-
cepting structural steel and reinforcing
bars, in which mills have fair back
logs. the demands upon finishing mills
are the lightest of the year.
The price situation of finished steel
and raw materials offers unusual con-
tradictions. While makers Of sheets and
strip steel are holding firmly to higher
third-quarter prices. there is DISPOSE
ton among producers Of bars, plates
and shapes to accept 160 cents, Pitts
burgh. on the larger orders. or 81 ton
under the quotation that was to apply
on third-quarter contracts On rein
forcing bars to distributors l.60 cents
has been established as the minimum,
to check the price irregularities that
have been prevalent in that commodity.
At the same time an advance Of 81 g.
ton has been announced on wire prod
ucts, except manufacturers wire and
woven wire fence.
Prospective Development.
"A prospective development Of the
next week or two is the establishment
of Detroit base on steel bars coinci-
dent with the starting up Of the new
bar mill Of the Great Lakes Steel Cor
poration at Detroit. The Detroit bar
base will be SO ton above the Pitts
burgh price. This innovation is likely
to extend to sheets and strip STEEL
which are also made by Detroit mills"
Awards of fabricated structural steel
total 119.500 tons this week. New fab
ricated steel projects. comprising 10000
tons, compare with 10000 tons week
ago.
The pig iron composite price Of the
Iron Age Is $l5.56 a gross ton, off
cents from last week and a new low,
running back to the Autumn of 1915.
The finished steel and steel scrap COM
posites are unchanged. steel at 2.137
cents a pound and scrap $9.17 ton.