Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-06
IRON OUTPUT SINKS
LOWEST SINCE 1921
Weekly Review Points to
0uiet Conditions in Pro-
duCtion Centers.
ar the AssocIated PRESS.

~ the Associated Press.
NEW YORK, August GA decline
IN pig iron production to the lowest
ebb since 1921, following the disap-
pointing revelations of iron and steel
company reports for the second quar-
ter. has dampened reviving hopes for
business betterment and accumulated
concern over negative market factors
In general, Iron Age says In its weekly
review.
with half Of the country's automo-
bile capacity idle" the review says,
with the Ensley and Pittsburgh rail
mills shut down and with virtually no
branch OF the steel industry showing
any Improvement aside from temporary
fluctuations characteristic Of low rate
OF activity, the outlook for August can
hardly be called encouraging. There Is
the further fact that the rise in steel
ingot production Of a week ago proved
abortive. With declines reported at
YOUNGSTOWN, Cleveland, Pittsburgh and
Buffalo, the average for the country
has receded from 80 to 80 per cent Of
capacity.
Prices Firmer.
ssWhile too much significance may be
attached to the change in operating
rate, in view of the increasing frequent
irregularities in steel-making schedules
In keeping with variations in mill. re-
quirement, the industry is not only re-
signed to another exceedingly dun
month, but is even more reluctant than
heretofore to estimate the scope Of
seasonal improvement in September.
The only favorable development Is q
firmer attitude on prices, which Is .
natural reaction from the poor quar-
terly earnings statements.
Pig iron production In July was L.
A63 ,220 tons, or 47,201 tons day, COM
pared with 1,63e,627 tons, or 54,621
tons day, in June. Both total output
and daily average were the lowest for
any month since November, 1921. The
daily rate compares with 53T32 tons
for last December, the previous low for
the depression. Output for the first
seven months Of the year, at 1858, 593
tons, is the smallest January-July total
since 1921, when 1922, 721 tons were
produced.
Twelve furnaces were blown out in
July and three were lighted, making q
net loss of nine. The 81 stacks in
blast last August ! are estimated to
have been making iron at daily rate
of As ,230 tons. Only IL Of the SIS fur
naces in the Pittsburgh district are
now active, and production is consider
ably below current steel-making require
ments, the difference being made up by
the use of cold iron, thus reducing
surplus stocks.
"The leading price development of
the week is the withdrawal Of the De-
troit basing point on bars, which was
announced a few weeks ago. Aside
from indicating a stronger position on
the part of producers, Lflis action also
is the outcome of dissatisfaction over
Inequalities in delivered quotations
among Michigan consumers who had
formerly held position of virtual parity
In their bar costs.
Mixed Trends.
SCRAP markets are lethargic and
show mixed trends. Heavy melting
steel has advanced IS cents ton at
Detroit. but declines In various grades
are reported at st. Louis, and the tone
Of the Pittsburg market has weakened. "
Fabricated structural steel bookings
and new projects declined this week,
with $4,000 tons of fresh work reported,
ana awards of l4,500 tons, the smallest
volume since the end Of April.
The Iron Age composite prices are
unchanged Pig iron is $l5.54 gross
ton; finished steel, 2.iiB cents pound
and heavy steel scrap, $s.42 ton.