Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-09
DECLINE IN STEEL
. OPERATIONS NOTED
Weekly Review Says Princi-
pal Decrease Is in Flat
Rolled Products.
By the Associated Press.

BY the Associated Press.
NEW YORK, April 9-Deyelopments
of the week include a further slight
decline in steel works operations, open
price reductions on various finishes of
sheet and somewhat stronger situation
in bars, plates and shapes, Iron Age says
in its weekly review of the iron and
steel industry.
THE recent falling off in steel de-
mand was confined chiefly to f1at-rolled
products" the review says First re-
ported in automotive specifications, the
recession in releases became more gen.
eral, undoubtedly rejecting growing I'M
certainty as to prices. With Qualification
of the price situation and prospects of
a recovery in motor car demands, senti-
ment in the industry is again more
sanguine. Business in heavy rolled
products showed an encouraging gain
at the end of the first quarter and total
bookings in finished steel have ceased
declining, if they have not yet resumed
the increase that began early in the
year.
Curtailment at Chicago.
Raw steel production has been cur
tailed at Chicago, Cleveland, Youngs-
town and in the East. Larger pro-
ducers, with more diversified output,
have been able to maintain steadier
operations than smaller companies.
Averge ingot production for the coun-
try at large is estimated at So per cent,
compared with SIS per cent a week ago.
Recent slackening in steel Specifica-
tions from the motor car industry is
now attributed to overbuying by lead
ing automobile company for its March
requirements. Steel deliveries which
should have been completed last month
were postponed and April releases like
wise have been held back temporarily.
But Notwithstanding this miScalculation
of steel needs, April production of motor
cars in the United States and Canada
is still expected to reach 100000 to
$50 900 units, with May output equaling
or slightly exceeding that Of the cur
rent month.
while it is not likely that untitled
orders for steel gained in March, the
opinion persists that peak production
for the first half of the year has not
yet been reached. Construction, rang
ing from highway projects to bridge
and building work, will soon feel the
stimulus of open weather. New fabri-
Gated steel business to come up for
bids, at 10000 tons, reached another
high weekly figure, raising the total of
the year to 943 500 tons, compared with
$4,000 in the corresponding period of
1880 and $4,000 tons two years ago.
Aside from the prospective placing of
pending tonnage, much of the steel
recently awarded is still to be rolled.
Deliveries on the steel for the large
Radio City project in New York will
begin in May and will continue at the
rate of about 10000 tons monthly for
13 months. Structural awards of the
week, at Al 500 tons, were of more than
average proportions.
The outlook in construction has no
doubt influenced the attitude of mills
on prices for plates, shapes and bars.
While the price of ITO cents, Pitts
burgh, remains INFESTED, considerable
contract business was driven in at 1.65
cents. which represents an advance of
81 ton over the average shipping price
for the first quarter
Present Prices.
widespread irregularity in sheet
prices may be brought to a halt by
open reductions made by at least one
producer. Automobile body sheets have
been cut So ton to $40 cents
pound. Pittsburgh. and light plates.
blue annealed sheets and continuous
mill sheets have been marked down 81
a IOil LlSilL DldbSS are HOW QuOLSu
at 1876 cents, Pittsburgh blue annealed
sheets at 2 cents and continuous mill
sheets at Ito cents. Galvanized sheets
are now rather generally available at
2.85 cents. Pittsburgh, or 81 a ton below
the recent ruling market"
Increasing for the third consecutive
month, pig iron output rose rs per
cent in March to 2,032 248 tons, or
$3.50 tons a day, compared with
1,706,62 tons, or 6O950 tons daily, in
February. Notwithstanding the gain,
the showing for March was the poorest
for that month since 1921.
A so cents a ton higher price for
foundry pig iran in the Pittsburgh dis
trict has brought an advance in the
Iron Age composite price to S15.79
from SSH a week ago Finished steel
remains at 2128 cents a pound and
heavy melting scrap is unchanged at
$1l.08 a gross ton.