Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-20
DEMAND FOR STEEL
CONTINUES STRONG
Further Increase in Buying
Predicted by Weekly
Trade Review.
BY the Associated Press.

| os tne associated Press.
NEW YORK. March 20.--Expansion
OF steel demand, although by no means
spectacular. is unchecked, and further
gains are indicated by the broadening
requirements Of the automobile and
construction industries, Iron Age says
In its weekly review of the industry.
Steel ingot output for the country
at large" the review says, has risen
from 55 to 81 per cent, with the greatest
gains reported at Cleveland. where
production is now 20 per cent of
capacity. and at Chicago. where the
district average is 81 per cent. with the
rate of one producer IS per cent. Three
blast furnaces have been aided 20 .he
list Of active stacks, one each having
been lighted in the Alabama, Youngs-
town and Chicago districts.
Gains Reported.
Finished steel specifications at Chi
cago are Is per cent above the average
for the year to date, while bookings at
New York are running 10 to 20 per
cent over those of February. Cleveland
also reports substantial gains. chiefly
attributable to the expanding needs Of
the automobile industry
spicuouS for its uninterrupted expan-
sion. Orders from the Detroit district.
however, usually call for Z to 10 days
delivery and, as a consequence, mills
serving the automobile trade have vir-
tually no backlcgs, although their ship
mentS from week to week are steadily
increasing. In the face of this extreme
conservatism, every week brings more
definite signs of sustained gain in
arNfN
output for the United States and
Canada is now estimated at 700. 600
cars, while peak production Of the year
Is expected to come later than usual,
possibly In May or June.
Most makers of wire rods, wire and
wire nails have adopted the advance of
81 ton for second quarter, first an
nounced a week ago. Likewise, most
producers of bars. plates and shapes are
quoting 1.65 cents pound, Pittsburgh,
for the coming quarter Lack of In
terest on the part of consumers has
thus far prevented these quotations
from undergoing a real test. In the
case OF plates. shapes and bars the fact
that most OF the tonnage shipped this
quarter has been at go cents may in
huence the attitude of buyers, notwith-
standing that the spot price has been
81 ton higher since the first of the
cept second-quaTter contracts at recent
prices is complicated by the appearance
OF fresh weakness in current TRANSACT
tons. Automobile body sheets have de-
cl1ned 81 ton to 800 cents a pound,
Pittsburgh. Black sheets have been
shaded 50 ton to 2.25 cents, Pitts
burgh, while scattered sales of gall
vanized sheets have been made at con-
ceSsions of 81 a ton.
Iron Prices.
"Pig iron prices are on the whole UNI
responsive IN quiet market, with In
creases in demand confined chiefly to
the autmobile industry. Alabama pro-
ducers have announced an advance Of
so cents a ton to Sill, Birmingham, on
iron for Northern delivery, while Cleve-
land producers have reduced prices so
cents a ton for local shipment Scrap
is sluggish, with prices for the most
part marking time"
New fabricated structural steel prof.
ects total $4,000 tons. Structural
steel inquiries reported thus far this
year call for 696,50O tons, compared
with $4,000 tons in the corresponding
period last year and 464 800 tons two
years ago. Fabricated steel awards for
the week totaled 10000 tons.
The Iron Age composite prices re-
main at last weeks levels. Finished
steel, at 2.142 cents pound, Is $40 a
net ton lower than year ago; pig iron,
at $l5.71, is $2.04 a ton lower, and
heavy melting scrap, at $11.0S, is 1892
ton lower.