The Iron Age 1919-11-20: Vol 104 Iss 21

at Pras =) ase a GE en ee es em ~ ESTABCISHED 1855 » 9119 Lor we PIG IRON STILL ADVANCING Steady Buying for 1920—Pressure from Consum- ers of Steel to Get on the Books— Large Rail Inquiry Ahead Iron and steel markets are still dominated by the ex- pectation of many buyers that for some months the difficulty of getting full supplies will be greater rather than less. Pig iron, which differs from steel products in that producers are making no effort to hold prices down, has made further advances of $2 for steel making grades and $1 to $2 for foundry grades. Large sales have been made, chiefly for first and second quarters of 1920, and much more iron could have been sold. Several producers withdrew from the market with inquiries be- fore them representing tens of thousands of tons. Ten to twelve blast furnaces have resumed, including four at Johnstown, Pa., and three at Youngstown, Ohio, and there have been corresponding resumptions by con- nected steel works. Thus, supply is increasing, but there is even greater pressure by consumers of steel to get mills to enter their orders, for the first half of next year. In some cases this is done, leaving prices to be fixed later; but most producers are not willing to make con- tracts until present uncertainties as to fuel supply and costs are cleared up. Some symptoms of a runaway market in pig iron have appeared, but as the main pressure is for early delivery and the supply of such iron is not large, the scramble has been limited. In next year’s iron there is not yet the general buying nor the general willingness to sell that combine to produce a broad movement. In basic iron a sale of 15,000 tons to a plate manu- facturer is reported at Philadelphia at $31.25, delivered, and sales of 10,000 tons in the Pittsburgh district were at $30 at furnace. No. 2 foundry has sold in the Cen- tral West in considerable lots at $32 at furnace for the first half.-One Alabama seller opened its books for 1920, but after selling 23,000 tons at $31 at furnace, an advance of $2, withdrew from the market. Heavy in- quiries have come up in Central territory, particularly from the Detroit district. The sales of Canadian pig iron to melters in the United States have been considerable. Shipments from the Soo furnaces in Ontario, together with recent sales, make a total of 45,000 tons to the Chicago district be- sides 15,000 tons for the Pacific coast. The Port Col- borne, Ont., furnace has also made sizeable shipments to this side. Estimates that the railroads will buy 1,000,000 tons of rails when they are turned back are considered conserva- tive in view of tentative inquiries by the Pennsylvania and New York Central Lines. In the Chicago district pending inquiries amount to 250,000 tons. The Algoma mill has an order for 80,000 tons for the Canadian Paci- fic. In view of the car and motive power scarcity that is already menacing winter distribution of fuel and steel, figures for next year’s needs exceeding 200,000 for cars and 5,000 for locomotives are not considered excessive. Recent export sales have included 20,000 boxes of tin a eV777T TT czeNe — ae. Pee eee NPODEUAUODRACADGRERAESUERCULOUELAAORDOEDUAOSEREDOEORED OO OU DOUOU OES IHCUNODDDRAOOOOSAAOAORREAOODERUROODEOUOORRNODODORONEDOOORNAOUAOEEAOOOEROOUODODAS OONERACONAOTANNODUASOONUOONNOONS CDONGREDADCEDOGU ODEO DAOC EDOUDRNDORUSapneRRORtOneaS: OOROGRSEOGADOOUGERODUNAUEEREGEROONOEAAOSOGOENGEOAEOOCO NOCD EDOO DODO ENCODED OTOEHOO HONE ROO OOONORNO DENS OOOO ROU EEROOREOOOORORDERNAEDUGOEDORUOOUEESOGRANORSOOEOODEORODUOOEEOOSERROSEDEEEDESIFDCNONRDOROOOSNOONEDOEEDOgREDERRORAOORROOEREDESEOOREAaNONERDD NEW YORK, NOVEMBER 20, 1919 seennenenceonenceonsnantonntan jeeetee tenteenseas sa ite tiie ae eee OL $ VOL, 104; NO. 21 plate at $8 and several thousand tons of rails, on which the price was higher than the domestic level of $47 for open-hearth. There are European inquiries for upward of 30,000 tons of semi-finished steel, but early deliveries are wanted and few mills can make a better promise than March, The shortage of sheets is more marked. Automobile manufacturers in particular have been bidding up prices, as high as $30 premium having been offered. Sales are reported at advances of $8 per ton above schedule for black and $11 for galvanized. One Detroit builder has been compelled for lack of sheets to cut output from 3,000 to 1,600 cars per day. October business in fabricated steel amounted to about 139,500 tons, comparing with a monthly average in the third quarter of 138,600 tons and in the first half of 1919 of 54,000 tons. Steel building projects remain notably active and manufacturing extensions have been a factor in Chicago and the Central West. Fabricating plants now have more business on their books than in months. Bar iron makers have advanced prices $2 per ton in the Pittsburgh district. Some Eastern mills have made an advance of $5, the second of that amount in 30 days, with correspondingly higher prices for nuts and bolts, but one Western nut and bolt interest has not yet follow- ed the advance of a few weeks ago. Eastern shipyards are becoming more active, inquiries now up at Philadelphia calling for 6,000 tons of plates. One Eastern seller of structural steel has advanced its price to a minimum of 2.65c, mill. Some mills which oppose an advance believe that higher prices would re- strict spring building. The demand for line pipe is unusually heavy and mills have turned away no small tonnage lately. A tentative inquiry represents 1,400 miles of 8-in. pipe; another calls for 800 miles and a third for 300 to 400 miles. The mills are filled up on lap weld pipe for months ahead. A contract for 10,000 tons per month of standard furn- ace coke for the first half of 1920 has been closed at $5.75 per ton at oven. The Government is rapidly cleaning up its surplus scrap. The Ordnance Department has just sold its stock of shell steel billets, amounting to 106,000 tons, to a Cleveland dealer at $33, Pittsburgh. Heavy melting steel is higher, sales at Pittsburgh having been made at $23. Taking their cue from the pig iron market, scrap dealers and brokers are not selling freely at present prices. Pittsburgh PrrrsspurcH, Nov. 18. The local pig iron market has been very active the past week, sales of iron for delivery in the first quarter of next year, having been heavy, and at prices $2 per ton or more higher than prevailed a week ago. Con- sumers seem very anxious to cover their needs as far as possible for first quarter, and have been buying very freely. Supplies of Beesemer, basic, No. 2 foundry and malleable iron for this year delivery have been thorough- ly cleaned up, and some sellers of these grades have all the business on their books for first quarter they care to take and are not actively quoting. One leading Shenango Valley maker of Bessemer and basic iron reports being 2 THE IRON AGE sold up through first quarter on all the pig iron it can possibly make in that period. While a week ago Besse- mer and basic iron were being sold largely to foundries, sales in the last few days have been to regular con- sumers of these grades. We note sales of 3,000 tons of Bessemer iron at $31.50, upwards of 10,000 tons of basic at $380; about 7,000 tons of gray forge at $31; 8,000 to 10,000 tons of No. 2 foundry at $32; about 5,000 tons of No. 1 foundry at $33.25, and about 2,000 tons of No. 3 at $31.50. All these prices are f.o.b. at Valley furnace. With the heavy demand for pig iron, and the limited supply, the prices seem certain to go higher, and pre- dictions are being made that basic may reach $35 before the first of the new year. We have advanced prices on all grades of pig iron $2 to $2.50 per ton, FERROALLOYS—-The demand for ferroalloys is fairly active, and since last week prices on low grades of Besse- mer ferrosilicon have been advanced $5 per ton, and on silvery iron $2 per ton. Sales of 5,000 tons or more of both Bessemer ferrosilicon and silvery iron have been made at the advanced prices for delivery in the first quarter. We also note sales of 600 to 800 tons of domes- tic ferromanganese at $110 delivered to consumer’s plant; also sales of about 300 tons of 78 to 82 per cent English ferromanganese at about $102 c. i. f. seaboard, equal to about $106.60 delivered. BILLETS AND SHEET BARS—There is still a great shortage in supply of billets and sheet bars and higher prices quoted last week are holding firmly. FINISHED MATERIAL—Inquiry for stuctural steel is very active, and fabricators have more business on their books than for some months. The American Bridge Co, has taken 700 tons for a theatre in Philadelphia and the McClintic-Marshall Co; about 3,000 tons for buildings for the Western Electric Co. at Chicago. The price of plain material remains at 2.45¢c at mill. Demand for plates is getting heavier, and some mills, with their reduced rate of operations. are pretty well filled up over this year. The Standard Steel’'Car Co. has taken 1,000 tank ears for the Union Tank Line, the American Car & Foundry Co. the same number, and the Pressed Steel Car Co. and the Cambria Steel Co. 750 each for the same concern. Export inquiry for plates is active, and a Youngstown mill is said to have taken 10,000 tons ship- ment to Japan at about 2.65c, mill. Neither the leading interest nor the larger independent mills have ad- vanced prices on sheets, but this may be done in the near future. One leading consumer has already placed 100,000 boxes of tin plate with a local mill, the price to be that fixed by the makers for next year. Wire rods are said to have sold up to $55 a ton for soft Bessemer and open- hearth, and as high as $85 has been paid for high carbon rods. Wire nails are very strong at $3.50 to $4 base per keg, and two export sales of large quantities have been made at $4.50 base, per keg at mill. Prices on common iron bars have been advanced $2 per ton, or a total of $7 in the past two or three weeks. The two leading mills are sold up on steel bars for months, and some of the smaller mills are holding steel bars at 3c at mill, and have made sales at that price. The demand for line pipe continues extremely heavy, and mills are turning down desirable orders every day. One tentative inquiry is in the market for 1,400 miles of 8-in. pipe, another for 800 miles. and still another for from 300 to 400 miles. Local mills say they will not quote on these inquiries, as they are filled up for months. COKBP—A local blast furnace interest, whose coke supply has been restricted by the coal strike, has been buying freely of blast furnace coke for prompt shipment, and is taking practically all the standard spot furnace that is offered. This concern is credited with having bought 25.000 tons of spot furnace coke in the past week or 10 days. Sales of prompt delivery furnace coke are being made at $6, and 72-hr. foundry coke at $7 per net ton at oven. A contract is reported for 10,000 tons per mongh of standard furnace coke for first half of next year at the flat price of $5.75 per net ton at oven. OTD MATERIAL—The scrap market is much more active, and. while little material has been sold, prices are*’up on nearly all grades about $2 per ton. This is due-slergely <testhe active market and ‘the higher prices of:pig iron, scrap dealers claiming that heavy steel scrap Nov. 20, 1919 for melting purposes is worth as much intrinsically as basic iron. One sale of 5,000 tons of heavy steel scrap is reported at $23 per gross ton delivered to con- sumer’s mill. Another sale of 3,000 tons is reported at $22.50, delivered consumer’s mill. The market on heavy steel selected scrap seems to be fully $23 delivered. It is claimed that as high as $25 has been offered for heavy steel scrap for delivery in first quarter ,and the offer was turned down. We note a sale of 2,000 tons of low phosphorus melting stock at $25.50, delivered. Dealers are looking for higher prices on scrap in the very near future, the demand being active, and the available supply is small. Chicago Curcaco, Nov. 18. Buyers are bringing tremendous pressure to bear on the mills to take orders to protect their first half re- quirements. Although these prospective purchasers are willing to leave the matter of price open, most mills are disinclined to take this business because they realize that an unexpected turn in the market would bring whole- sale cancellations. The scarcity of sheets for prompt shipment is marked. Automobile manufacturers particu- larly are scouring the country for this product and are offering attractive premiums, in some cases as high as $30 a ton. Despite these heroic measures, a leadnig De- troit automobile builder has been forced to reduce his daily out-put from 3,000 to 1,600 cars. The demand for steel bars also continues very strong, but the leading interest continues to quote 2.35c, Pitts- burgh, with the stipulation that deliveries will be de- pendent upon operating conditions. One important West- ern bolt and nut manufacturer has not yet raised his prices in conformity with the recent advances by other makers. Pig iron and old material continue to move upward. The leading interest will furnish 16,000 tons of plates, shapes and axles for 1,000 tank cars to be constructed by the Standard Steel Car Co. for the Union Tank Lines. As a result of the release of some of the coal in transit the situation with the iron and steel mills in the Chicago district is somewhat easier than it was a week ago. The Highland Iron & Steel Co. is about to resume operation in its West Pullman bar iron mill which has been idle for a week. The Republic Iron & Steel Co. is again oper- ating its busheling department at its East Chicago mill and believes it will be able to keep this plant running until the end of the month. Its Moline, Ill, hard steel bar mill, however, will be forced to shut down at the close of this week, unless additional fuel can be secured. The Interstate Iron & Steel Co. is also running on a short supply of coal. To conserve its stock it is now operating the boilers at its South Chicago works on oil. Its open- hearth furnaces have been oil-fired since their installa- tion. The larger interests, Illinois Steel Co., Inland Steel Co., Wisconsin Steel Co., and Steel & Tube Co. of America, have sufficient coal laid in to insure operatfon until the end of the year or longer. They may run short of steam and gas coal, which comes from the Indiana and Illinois fields, but in that event can draw on their ample stocks of coking coal. These plants are now operating on prac- tically the same basis as before the steel strike. Despite its favorable position with regard to fuel stocks, the leading interest is conserving its supply through an increased use of oil. During the steel strike oil was used more extensively for open-hearth operation on ac- count of a shortage of labor. Now ‘this policy is being continued because of the uncertain coal situation. FINISHED MATERIAL—An export inquiry for 200 high side gondolas will call for about 3,300 tons of steel. A Southern inquiry for 10 oil tanks involves 1,500 tons of plates. The Pullman Co. will build 69 passenger cars for the Texas & Pacific, involving 1,000 tons of steel. Ad- ditional Westerr railroads are in the market for rails, making the total tonnage asked for in this district about 250,000 tons. The Chicago Union Station received bids Nov. 15 on 17,000 tons of structural material. The Stand- ard Oil Co. is asking for 3,000 tons to be used in the erection of 500 storage tanks. The Aetna Iron & Stée) Co. has awarded 1,300 tons to the Northwestern Bridge nce? PA Nov. 20, 1919 THE IRON AGE 3 A Comparison of Prices Advances Over the Previous Week in Heavy Type, Declines in Italics At date, one week, one month, and one year previous For Early Delivery Pig Iron, Per Gross Ton: 1919 1919 1919 1918 Nov. 18, Nov. 11, Oct. 21, Nov. 19, No, 2 X, Philadelphiat....$36.10 $36.10 $32.10 $39.15 No. 2, Valley furnacet.... 32.00 32.00 26.75 34.00 No. 2 Southern, Cin'tit.. 234.60 33.60 31.60 37.60 No. 2, Birmingham, Ala.}+.31.00 30.00 28.00 34.00 No. 2, furnace, Chicago. ..32.00 30.00 26.75 34.00 Basic, del’d, eastern Pa...31.25 31.00 28.00 36.90 ic, Valley furnace..... 80.00 27.50 25.75 33.00 Bessemer, Pittsburgh ...,32.90 29.90 29 85 36.60 Malleable, Chicagof ...... 32.50 30.50 27.25 34.50 Malleable Valley .......... 32.00 31.00 27.25 34.50 ay forge, Pittsburgh ....32.40 29.90 27.15 34.40 L. 8. charcoal, Chicago. oe. 37.00 7.50 32.75 38.85 Rails, Billets, Ete., Per Gross Ton: Bess. rails, heavy, at mill. 45.00 45.00 45.00 55.00 O.-h. rails, heavy, at mill. 47.00 47.00 47.00 57.00 Bess. billets, Pittsburgh... 42.00 42.00 38.50 47.50 2-2 billets, Pittsburgh... 42.00 42.00 38.50 47.50 -h. sheet bars, P’gh..... 45.00 45.00 42.00 51.00 emhat billets, base, P’gh. 57.00 57.00 51.00 60.00 O.-h. billets, Phila........ 47.50 47.50 45.50 51.50 Wire rods, Pittsbureh..... 55.00 55.00 62.00 57.00 Finished Iron and Steel, Per Lb. to Large Buyers: Cents Cents Cents Cents Tron bars, Philadelphia.... 3.245 2.995 2.745 3.745 Tron bars, Pittsburgh...... R10 3.00 2.75 3.50 Iron bars, Chicago........ 2.72 2,72 2.62 3.50 Steel bars, Pittsburgh..... 2.75 2.75 2.35 2.90 Steel bars, New York..... 3.92 3.02 2.62 3.17 Tank plates, Pittsburgh... 2.65 2.65 2.65 3.26 Tank plates, New York.... 2.92 2.92 2.92 3.52 Beams, etc., Pittsburgh... 2.45 2.45 2.45 3.00 Beams, etc., New York..... 2.72 2.72 2.72 3.27 Skelp, grooved steel, P’gh. 2.45 2.45 2.45 2.99 Skelp, sheared steel, P’gh. 2.65 2.65 2.65 3.25 Steel hoops, Pittsburgh... 3.25 3.25 3.05 3.50 *The average switching charge for delivery to foundries in the Chicago district is 50c. per ton tSilicon, 1.75 to 2.25. tSilicon, 2.25 to 2.75. & Iron Co. for a sheet mill at Gary. Whitehead & Kales, Detroit, will fabricate 800 tons for an addition to the American Steel Foundries plant in that city. The Inland Steel Co. desires figures on 1,000 tons for a hot metal mixing plant. Bar iron and rail-carbon bar rolling mills face an early shut down if they are unable to secure coal at any early date. One bar iron mill was idle all last week. PIG IRON—Pig iron continues to advance. All grades of Northern iron have gone up $2 and the lowest quotation on Southern fron is now $31 Birming- ham for 1.75 to 2.25 per cent silicon. The Canadian stacks which have been selling in this district are now out of the market after disposing of about 45,000 tons here this year and about 15,000 tons additional which was sold to the American consumers on the Pacific Coast. The leading Northern producer is no longer entertaining new business, but is steadily increasing its operations. Two Federal and two Iroquois furnaces are now in blast and a third Iroquois stack will be started soon. The Duluth furnace and both the Mayville furnaces con- tinue on operation. The Wisconsin Steel Co. now has two out of three stacks in operation. Most of the spot iron available is coming from ‘the Valley and Vir- ginia furnaces. Within the past two weeks, one local broker has sold an aggregate of 25,000 tons of Valley iron at from $30 to $31 furnace for 1.75 to 2.25 per cent material. The Virginia producers are selling a basis of $31 to $33 furnace, although they are offering some higher sulphur material at a discount. One South- ern furnace was in the market for 24 hours last week and booked a total of 23,000 tons at $31 and $32 base Birmingham. The following day it withdrew from the market. The tonnage was placed in this district, 2,500 tons at $31 for first half delivery having been taken by one consumer. Two inquiries for 4,000 and 5,000 tons of foundry respectively are before the trade. The de- mand for malleable is less marked than a week ago and it is thought that this fs a reflection of the critical coal situation, It. is known,. that one large Jocal malle- able foundry will have to close ‘soon if it cannot secure additional coal, The Government regulations covering on Sheets, Nails and Wire, Nov. 18, Nov. 11, Oct. 21, Nov. 19, 1919 1910 1919 1918 Cents Cents Cents Cents Par Lb. to Large Buyers: Sheets, black, No. 28, P’gh. 4.35 4.35 4.35 5.00 Sheets, galv., No, 28, P’gh. 5.70 5.70 5.70 6.25 Wire nails, Pittsburgh .... 3.50 3.50 3.25 3.50 Plain wire, Pittsburgh..... 3.10 3.10 3.00 3.25 Barbed wire, galv., P’gh.. 4.25 4.25 4.10 4.35 Old Material, Per Gross Ton: Carwheels, Chicago ...... 28.00 $27.50 $24.50 $29.00 Carwheels, Philadelphia .. 28.00 28.00 24.50 29.00 Heavy steel scrap, P’gh.. 23.00 22.00 19.00 19.00 Heavy steel scrap, Phila.. 20.50 20.50 19.00 28.00 Heavy steel scrap, Ch’go.. 18.00 18.00 17.50 29.00 No. 1 cast, Pittsburgh.... 28.00 27.00 24.00 29.00 No. 1 cast, Philadelphia... 29.00 26.50 25.00 29.00 No, 1 cast, Ch’go (net ton) 28.56 25.50 25.00 29.25 No. 1 RR. wrot, Phila..... 28.00 28.00 27.00 34.00 No. RR. wrot, Ch’go :net) 23.00 22.50 19.50 27.00 Coke, Connellsville, Per Net Ton at Oven: Furnace coke, prompt.... $6.00 $6.00 $4.35 $6.00 Furnace coke, future..... 6.00 6.00 5.00 6.00 Foundry coke, prompt.... 7.00 7.00 6.00 7.00 Foundry coke, future .... 7.00 7.00 5.75 7.00 Metals, Per Lb. to Large Buyers: Cents Cents Cents Cents Lake copper, New York... 20.50 21.75 22.25 26.00 Electrolytic copper, N. Y.. 20.00 21.25 21.75 26.00 Spelter, St. Louis.......... 7.95 7.75 7.75 8.15 Spelter. New York......... 8.30 8.10 8.10 8.50 Lead, Stl, Louis......-. 2. 6.55 6.50 6.25 7.75 Lead, New York........... 6.80 6.75 6.50 8.05 Tin, New York........... 53.87% 53.75 56.50 75.00 Antimony (Asiatic), N. . 9.25 8.87% 8.62 8.00 Tin plate, 100-Ib. box, Pgh. $7.00 $7.00 $7.00 $7.75 the distribution of coal have not yet been extended to coke and foundries in this district are receiving shipments on contracts without interruption. Silvery iron is exceed- ingly scarce. The city of Chicago has ordered 1,000 tons of cast iron pipe from the United States Cast Iron Pipe & Foundry Co. A local consumer has purchased 2,000 tons of spiege- leisen at about $35 furnace. OLD MATERIAI—Scrap continues to rise, cast and malleable grades being particularly strong. Briggs & Turivas, scrap iron brokers, recently purchased 30,000 tons of shell scrap at Montreal, most of which has been already disposed of in Canada. Philadelphia PHILADELPHIA, Nov. 18. While there is no evidence of distress among con- sumers because of the shortage of steel and pig iron, it is apparent that much larger quantities would be consumed if they could be obtained. More business is being offered than is accepted by the mills and fur- naces, this situation applying equally as to steel prod- ucts end pig iron. The shortage of sheets and bars is especially acute, and while most contract customers are being fairly well taken care of, there is an enormous new demand which cannot be met. If the steel mills were to take the business, they could not promise de- liveries much before the second quarter. It is esti- mated that the sheet mills of the country will enter the new year with about a million tons of orders on their books. Meanwhile, much sheet business that is offered at large premium prices is going begging. Steel bars in small lots for prompt delivery have sold at 3c. and 3.25¢., Pittsburgh, but even at these prices sellers are not anxious to take the business, and are doing so only to help out old customers. The needs of the railroads after their return to their owners, which is expected to take place Jan. 1, will be very large, according to some estimates of the steel trade. It is expected that fully. 1,000,000 tons. of rails will be required, in addi-. tion to which some of: the roads will undertake exten- sive ear and. locomotive building programs. There-is -no fear that the plate market will again weaken, even + THE IRON AGE when more plate mills become active, as there is a growing demand for plates. Some shipyards are be- coming more active. Inquiries in the market from Eastern yards total about 6000 tons of plates. One plate company whose price is 2.75c., Pittsburgh, for Eastern shipment and 2.75c., mill, for Western ship- ment is having no difficulty in booking orders at this price, though deliveries in some instances cannot be promised short of three or four months. Output of Eastern plate mills is increasing. One plant, with a normal output of 1000 tons daily, is getting a daily pro- duction of 900 tons and with a better supply of labor could increase this. An Eastern maker of shapes has advanced prices so that all sales net not less than 2.65c., mill. Other makers of shapes are opposed to any price advance at this time, believing that to do so will restrict activities for spring building. A new of- fice building in Philadelphia for the Atlantic Refining Co., requiring about 2000 tons of steel, is about to be let. Pig Iron—The Eastern pig iron market is in a pe- culiar condition. Veterans in the business say they do not recall any conditions just like the present. There is an insistent demand for iron not only for prompt delivery but for first half, and much more business is being turned down than is accepted. A large number of the active furnaces are sold up for the next two to four months, and do not want to make further commit- ments. No. 2 X iron is generally quoted at $35 to $36, furnace. For next year a Buffalo furnace has quoted $38, furnace, on No. 2 X. The leading Virginia inter- est has quoted $35, furnace, for No. 2 plain and $1.25 higher for No. 2 X. Higher silicon iron is bringing fancy prices. The trade expects $40 iron by the first of the year. We note a sale of 100 tons of Virginia foundry iron, analyzing 2.75 to 3.25 silicon, at a deliv- ered price of $39.70. An Eastern maker of Bessemer iron this week quoted $33.50, furnace, on an inquiry for 5000 tons. Malleable is hard to obtain, and such sales as have been made in the East have been by Middle Western makers, with prices approximating $36 to $37, delivered. Another sale of basic was made a few days ago to an Eastern plate manufacturer, the amount being 15,000 tons and the price $31.25 deliv- ered. Recent sales of basic at $33, furnace, for deliv- ery in the first half fairly represent the market for that delivery, though slightly better can be done for earlier delivery. Finished Material—Some Eastern makers of bar iron have again advanced prices $5 a ton, this being the second advance of that amount within 30 days. The new prices are as follows: For % and 5/16 in. rounds and squares and flats under % in. thick, 4c., base, Pittsburgh; for % and 7/16 in. rounds and squares, 3.70c., base, Pittsburgh; for flats wider than 6 in., 8.30c., base, Pittsburgh; other sizes of rounds, squares and flats, 3c., base, Pittsburgh. Prices on bolts have also been advanced by some Eastern makers, their new discounts being as follows: Machine bolts, h. p. sq. nuts, % x 4 in. and smalier, rolled thread, 50 and 7% per cent off list; cut thread, 40 and 10 and 5 per cent off; larger and longer, 40 per cent off; carriage bolts, h. p. sq. nuts, % x 6 in. and smaller, rolled thread, 45 and 5 per cent off; cut thread, 40 and 5 per cent off; larger and longer, 30 and 10 per cent off; lag screws, 50 and 10 per cent off; blank bolts, 40 per cent off; bolt ends, h. p. nuts, 40 per cent off; with c. p. nuts, 30 and 2% per cent off; rough stud bolts, 35 and 2% per cent off; forged tap bolts, 25 per cent off; U. S. standard h. p. nuts, % to 2 in., inclusive, sq. and hex., blank, 2.50c. off list; tapped, 2.25c. off; cold punched the same. Button-head oval neck track bolts, U. S. standard, cut threads and h. p. nuts, 4 in. and larger, less than carloads, 5.50c., base, Pittsburgh; car- load lots, 5c., plus Government extras. Less than 200 kegs take an extra lic. per 100 lb. Contracts are being made by some companies at these prices for delivery this year, but they are not quoting for next year. There Old Material.—Prices continue to advance. is a scarcity of nearly all grades of scrap, due partly, no doubt, to the withholding of supplies for higher prices. Steel rails for rerolling are up 50c. to $1.50 a ton. No. 1 cast scrap is in strong demand, and prices are $1.50 to $2.50 higher. Borings and turnings and stove plate are scarce and higher. The Ahell-Howe Co., Chicago, has opened a branch office in the Greenwood Building, Cincinnati, that is in charge of C. Walter Parker. Nov. 20, 1919 Cincinnati CINCINNATI, Nov. 18. PIG IRON—Some Southern foundry iron, silicon 1.75 to 2.25, was sold last week at $31 Birmingham basis, for nearby shipment. Only one interest in the South is able to take business for this year’s shipment except on off grades of high sulphur iron. All Southern makers have withdrawn first quarter offerings and are awaiting something more definite as to future costs. In southern Ohio one producer is still willing to take business from old customers at $32.75, Ironton. Other interests there refuse to quote. A medium sized tonnage of southern Ohio malleable was sold last week at $35.25 furnace for November-December shipment. None is being offered for first quarter delivery. COKE—Coke is easier in the Connellsville field and shipments are moving more promptly. Furnace grades range from $5.75 to $6 and foundry from $6.50 to $7 at oven on contracts and from $7 to $7.50 for prompt ship- ment. Wise County furnace coke is around $7.25 to $7.50 and foundry from $8.50 to $9. A little better supply is reported. New River is still scarce and is firm at $10.50 to $11 at ovens. OLD MATPRIAI—tThe scrap market is stationary and all quotations are firm. The car supply is improving rapidly and recently not much complaint was in evidence on this score. Indefinite knowledge as to the coal strike is holding back business in all lines to some extent, but no nearby manufacturing plants have been embarrassed for want of fuel. Birmingham BIRMINGHAM, Ala., Nov. 17. Pig ‘Iron.—At the turn of the middle of the month, Birmingham pig iron had advanced to $31 with a strong leaning to $32. The day the coal strike recall was is- sued an out-of-the-market interest entered on a $31 basis for 1920 business. In less than 24 hours it had booked 20,000 tons, principally for Ohio and other Middle Western delivery, and then withdrew. The week before this interest was still quoting $29. The two largest foundry producers and one other had been selling at $30 during the preceding week. At the close of the week they were out of the market temporarily, but it was understood that they would ask $32 on re- entrance. The leading interest has no metal to offer and probably will have none, needing all its own. The Alabama Co. is getting $32 for its Clifton brand. Busi- ness booked for 1920 fairly well covers the first quarter capacity, one large interest admitting bookings to ca- pacity for 90 days. The bulk of the 1920 bookings was at $30. A still higher market is regarded as practically certain. Steel mills are turning down orders and op- erating at near capacity. The leading interest pulled through the coal strike without banking any of its nine furnaces. The Woodward Iron Co. will probably re- sume at one of the banked Vanderbilt stacks in the near future. The Sloss-Sheffield Steel & Iron Co.’s stack at Sheffield is being relined. Cast Iron Pipe.—Oil pipe is active, the Standard Oil and Gulf. Refining companies being large takers for the Houston field. Asheville, N. C., is taking 9 miles of 16-in. water pipe and El Paso a quantity of 20-in. There is now a 70 per cent production of coal in Ala- bama compared with 40 to 50 per cent prior to the strike recall. Many miners are still out. Strikers claim operators are blacklisting strike leaders. Operators ad- vance the counter claim that the men will not work. Production tends to increase. Old Material—The old material market has been given an impetus owing to the advance in iron and the yards are holding stiffly for the new schedule. No. 1 cast and stove plate are moving in quantities. Cleveland CLEVELAND, Nov. 18. PIG IRON—Features of the pig iron market are a very heavy volume of inquiry, particularly from the Detroit territory, for foundry and malleable grades for next year and a sharp price advance on basic iron. Sales of a round tonnage of basic are reported at $30. A Cleve- land producer, finding it necessary to purchase some basic, was unable to secure a lower price, and purchased 2,500 tons, not being able to get a larger quantity. Foundry Nov. 20, 1919 iron is firmly established at $382. Malleable iron has sold at $32.50 for a 3,000 ton lot for the first half. An- other sale of 2,000 tons was made at $31.50 for early ship- ment from Pennsylvania to Western Ohio. A leading selling agency opened its books at $32 for foundry iron for the first half, and, after selling several thousand tons, withdrew from the market without quoting on 50,000 tons. Other producers have either withdrawn or are selling only in limited quantities. Pickands, Mather & Co. have blown in their A furnace in Toledo, which has been rebuilt and were unexpectedly compelled to blow out their B furnace for relining. M. A. Hanna & Co, have blown in their second Detroit stack and the Upson Nut Co. has blown out its stack for relining. FINISHED MATERIAL—Operating conditions con- tinue to improve in the Cleveland steel plants. The Mc- Kinney Steel Co. has started three additional open-hearth furnaces, now operating 11 out of 14. The Cleveland Steel Co. resumed operations this week and the Upson Nut Co. is operating at 100 per cent. The demand for finished steel is heavy and consumers are finding it hard to place orders for early shipment. The volume of in- quiry for plates has increased, among inquiries being one for 10,000 tons for field and car tanks. Plates for early shipment are selling at 2.75c, Eastern mill. New struc- tural work includes 650 tons for the plant of the Superior Sheet Steel Co., Canton, taken by the Canton Bridge Co.; 750 tons for the Loew Theatre Building, Cleveland. Sheets are very scarce and sales have been made at a premium of $8 for black and $11 for galvanized. Bolt and nut sales are being made at 10 to 15 per cent above regular prices. Cold weather has caused a rapid falling off in ore shipments, many boats having been tied up. OLD MATERIAL—Scrap prices continue to advance and the market shows an increased activity, although some of the buying appears to be speculative. Sales of heavy melting steel are reported at $22 for Lorraine delivery. New York New York, Nov. 18. PIG IRON—The pig iron market has again advanced about $1 within a week with the probability of further advances as more furnaces go out of blast because of the coal strike. Only a sudden return to a normal coal situation can stem the rising tide of prices. For 2 X iron $35 furnace is the minimum, extending in some cases to $37. Virginia iron, 3.25 to 3.75 silicon was sold in New England at $39, furnace, plus a freight rate of $4.70. A Michigan charcoal iron furnace this week advanced from $37 to $40. High silicon irons remain especially scarce. Off-irons still sell rapidly, one seller having just disposed of about 1,000 tons of high sulphur iron. Demand for basic iron is increasing, one agent having received several inquiries for around 3,000 ton lots. One seller has received inquiries for 1920 within the last two weeks totaling 40,000 tons, but has been unable to quote on any. CAST IRON PIPE—Because of the mounting cost of pig iron, manufacturers of cast pipe are predicting early ad- vances in prices. The Department of Water Supply, Gas and Electricity, City of New York, will award a contract involving 2,000 tons of 36-in. cast iron pipe and fittings Saturday, Nov. 22. Prices are stiff, skilled labor is scarce and orders are heavy. We quote 6-in. and heavier at $58.80, New York; 4-in. $61.30, with $2 additional for Class A and gas pipe. FINISHED IRON AND STHEL—Demand has con- tinued in such volume that mills which have been enter- ing carefully selected business are now refusing all of- fers. Others have tightened up with the result that plates, structural material and alloy steel bars are about all the forms of finished steel that can be obtained in two months or less. On steel bars one large producer is booked for five months under normal manufacturing rates, which under the conditions of slow return to the normal are taken as equivalent to seven months. An- other mill nominally at 2.50c, Pittsburgh, for bars, has nothing to sell at any price and has practically ceased to enter bars of forging quality, for which 2.85c has been the basis of settlement. A third has booked probably 5,000 tons at 2.75c to 2.80c, Pittsburgh. Export de THE IRON AGE 5 mand continues heavy in semi-finished forms, between 30,000 and 40,000 tons being a conservative estimate of the total which could be closed immediately if possible to find mill space open. It is doubtful if a large ton- nage could be bought for better than March shipment. Some rails have been placed for export at several dol- lars above the prevailing domestic levels of $45 and $47 and tin plate has squarely reached $8 per base box. 20,000 boxes having been sold at this price. One of the features of the week was the sale of between 2,000 and 3,000 tons for forging billets at $80 per ton. Some small lots of plates for domestic consumption have brought 2.70c Pittsburgh base. Heavier inquiries are noted for fabricated material. Included in the list are the follow- ing : ‘Bank at Wilmington, Del., 200 ton Proof shop, Bureau of Yards ma Docks, Washington, 300 tons. International Tailoring Co., Fourth 2 Sraen 1400 tons. Textile mill, Three Rivers, "Mass. Duesenberg Motor Corporation ihisabeth N. J., 4000 tons. Loft, Livingston Street, — yn, 1000 tons. Theater, Baltimore, 1000 ton Fertilizer plant, Armour Co, “Baltimore, 750 tons. Awards include the following to the American Bridge Co.: General Electric Co., office buildingg at Schenectady, N. Y., 500 tons; air coast defense station, Staten Island, 700 tons; Passaic Cotton Co., two mills, one at Passaic ond one at Fall River, 650 tons; Marcy power station, State of New York, 325 tons; addition to Cheswick power plant, Springdale, Pa., 550 tons; Proctor & Gamble Co., Dallas, Tex., 450 tons. The Hay Foundry & Iron Co, has been awarded 1,800 tons for a telephone building on East Thirtieth Street and a Haas loft, Seventh Avenue and Thirty-sixth Street has been placed The Lehigh Struc tural Steel Co. has taken 120 tons for the Atlantic Smelt- ing & Refining Co., Newark, N. J. Prices are to be found elsewhere in this issue. OLD MATERIAL—The steady march upward of scrap is inducing dealers to hold their supplies for expected higher prices. There is a decided scarcity of clean bor- ings and borings and turnings. As an example of market conditions, one New York broker is offering from 25c to $1.50 more on 10 grades than he offered a week ago. Heavy melting steel is more conservative in its price movements than many other grades, Boston Boston, Nov. 17. PIG IRON—Spot iron practically has disappeared from the market, most of the furnaces operating having sold all that they desire. Probably less than half a dozen cars have been sold during the past week. It is only fair to state, however, that all the 1919 New England re- quirements have been covered. First half 1920 iron is by no means plentiful, most of the furnaces being in- clined to withhold offerings until the coal supply situa- tion is clearer. With the exception of one local house, which has sold between 25,000 and 30,000 tons, the gen- eral pig iron market, as a result of the attitude taken by the furnaces, is much quieter than it was earlier in the mouth. Alabama irons for all shipments are out of the market owing largely to heavy sales by New York and Cincinnati agencies. Little Virginia iron is to be had, but some furnaces expect to open their 1920 books during the next few days. The last car of Virginia re- ported as sold was silicon 2.75 to 3.25, which brought $36 furnace. The most active house started the week’s busi- ness on a $32 base for Eastern Pennsylvania silicon 1.75 0 2.25, but finished on a $33.75 base, and in one or two instances, where small tonnages were involved, secured $34 furnace. This firm sold 1,000 tons of silicon 2.75 to 3.25 to the General Fire Extinguishers Co., Providence, I.; 500 tons silicon 2.25 to 2.75 to Landers, Frary & Clark, New Britain, Conn.; 1,000 tons silicon 1.75 to 2.25 to a Bridgeport, Conn. foundry; 1,000 tons silicon to a Springfield, Vt. foundry; and 4,000 tons silicon 1.75 to 2.25 to a Westfield, Mass. foundry. COKE—A small tonnage of Connellsville coke for prompt shipments is available, but the New England Coal & Coke, the Providence Gas Co., and the large majority of Connellsville shippers are cleaned up on such offerings so the market really is nominal. A sizable tonnage of first-half 1920 coke has been sold since last 6 THE IRON AGE reports on a $11.90 delivered basis, but business is not nearly as brisk as it was a week or 10 days ago. OLD MATERIAL—HEastern Pennsylvania interests have continued light buyers of steel scrap, although some sales on a delivered basis of about $20.50 are reported. Chemical concerns have been active buyers of borings since last reports and apparently the blast furnaces, steel mills and a few of the rolling mills cannot secure enough turnings. New England foundries are buying all the cast scrap they can secure, the sales for the past week involving a considerable tonnage at a $31 to $32 delivered basis. Pipe consumption is virtually nil. The general old material market, however, has been active and firmer, Buffalo BUFFALO, Nov. 17. Pia Iron: Inquiry for small tonnages for prompt delivery is insistent, but the producers of the district have very little iron not already under contract with which to satisfy the demand. One of the largest pro- ducing interests still has its furnaces out of blast, as they have been since the beginning of the iron and steel workers’ strike, and the others with one exception are entirely sold up for the current quarter, consequently consumers are obliged to go to outlying districts for immediate supplies. Even this source of supply is becoming more difficult to be made available, and it is believed prompt shipment iron will be practically unob- tainable within a few weeks if the furnace capacity of the district cannot soon begin full production. Fur- naces are becoming more reluctant to sell for next year and prices are ruling higher. Nothing less than $34.00, furnace, for 2 plain, 1.75 to 2.25 silicon; $35.25 for 2X, 2.25 to 2.75 and $37.00 for No. 1 foundry, 2.75 to 3.25 Is now being quoted for any delivery. One of the large producers which has heretofore refrained from quoting for 1920 commenced quoting this schedule today. Malleable is now being held at $35.25, and is exceed- ingly scarce, and basic at $32.00. Otp MarTerraL: The market is exceedingly strong and about $1 per ton higher on every grade. Inquiries are out for the largest volume of steel scrap that has been before the market for a year, both from local and out- side of the district consumers. Dealers are holding back, however, and are not anxious to sell anything they have in stock, believing higher prices are imminent and that such expectation will soon be realized; conse- quently consumers are finding it hard to buy at today’s prices. Demand from the eastern Pennsylvania district is strong and $21 is being paid for cast iron borings. St. Louis St. Louis, Nov. 17. PIG IRON—An acceleration of the buying movement in pig iron was markedly notable during the past week, the aggregate sales being very heavy and estimated to run probably as high as 25,000 tons in the aggregate. The call was for foundry and malleable iron with the individ- ual tonnages ranging from 2,000 tons down, but relatively few below 1,000 tons. The sales were of both Northern and Southern iron, while the local furnace also par- ticipated in the bookings, having opened its lists for next year in anticipation of blowing in the latter part of February. The sales by the local furnace were on a basis of about $35 per ton, while the Southern sales were $32 to $33 Birmingham and the Northern about $32.75 Iron- ton. COKE—Considerable selling in coke was reported in tonnages ranging down from 750 tons on a basis of $7 Connellsville. New River quotations, with no shipments definite, were $12 to $12.50 per ton for prompt and 50 eents lower for next year. FINISHED IRON AND STEEL—In finished products the shipments continue to show improvement but the re- ceipts are still far below needs and the full range of shapes is not available, resulting in still further sub- stitution in sales out of warehouses. OLD MATERIAL—In scrap the activity is speculative- ly heavy with dealers bidding high for material and some consumers aiding the tendency upward by efforts to get certain classes of material. The dealers are at. present gambling that the market will go higher. Nov. 20, 1919 METAL MARKETS THE WEEK'S PRICES Cents Per Pound For Early ey New York Spelter Electro- New New St. New St. Nov. Lake lytic York York Louis York Louis 12 21.75 21.25 64.25 6.80 6.556 8.10 7.76 13 21.50 21.00 54.50 6.80 6.55 8.25 7.90 14 21.00 21.00 54.50 6.80 6.55 8.35 8.00 15 20.756 ee. awée 6.80 6.55 8.35 8.00 17 20.50 20.00 53.87% 6.80 6.55 8.30 7.96 18 20.50 20.00 53.87% 6.80 6.55 8.30 7.95 New York New York, Nov. 18. Evidently influenced by the fact that demand in re- cent weeks has not been equal to production, some of the larger producers of copper are understood to have been sounding consumers at considerably lower prices than have prevailed for some time. Electrolytic cop- per for delivery this year is therefore quotable as low as 20c., New York, with Lake at about 20.50c., New York. At these lower levels very little business is un- derstood to have yet been consummated. Only light sales of tin either for prompt or future shipment have been made and the market has been featureless. Due to congestion at the docks and consequently less ample supplies of metal, spot Straits has sold at higher prices during the week and is quoted to-day at 53.87%4c., New York. Ex-steamer at dock the quotation is 53.25c., with the last quotation for December-January shipment from the East at 53.50c. The lead market is stronger, due rather to a limited supply than to a large demand, and the New York quotation is 6.80c., with the St. Louis quotation also slightly higher at 6.55c., both for early delivery. A larger export demand caused the zinc mar- ket to rise to 8c., St. Louis, for prime Western delivery, at which level large producers and others are more in- clined to do business. Since then the market has fallen slightly to 7.95c., St. Louis, or 8.30c., New York. The antimony market is stronger at 9.25c., New York, duty paid, for wholesale lots for early delivery. Virgin aluminum is obtainable at 32c. to 33c., New York. The spiegeleisen market is active and stro g. There are inquiries before the market for from 3000 to 5000 tons, some of it for export, and several thousand tons have been closed both for domestic and foreign con- sumption at about $35, furnace. France is inquiring for 500 tons and an Antwerp buyer is interested in 1000 tons. A domestic consumer is negotiating for 1000 tons for delivery in the next four months and two other buy- ers are inquiring for 500 tons each. In the domestic ferromanga:.ese market there are inquiries aggregat- ing 1000 tons and sales of small lots have been made at $110, delivered. British producers are still absent from the market, although one may be able to quote in a few days for delivery in the first quarter. CONDITIONS IN GREAT BRITAIN Large Demand, but Works Are Far Behind— France Buys Blooms in Italy. LONDON, ENGLAND, Noy. 18 (By Cable).—The ending of the molders’ strike which began in the last week of Sep- tember, rémains in doubt. Steel companies report heavy unsatisfied export demands. Lorraine basic iron, of which large sales were made to this country, is now ar- riving in England. Business on a large scale is offered in steel, but works are unable to quote and all deliveries remain: greatly in arrears. France is reported to have bought 80,000 tons of blooms from the Ilva works, Italy located at Bagnoli, near Naples. The tin plate demand though unsatisfied is quieter, but quotations now are 45s to 46s per base box (about $9.45 with exchange at $4.14). Galvanized sheets are perhaps still stronger, No. 24 gage being £36 10s, or €1 higher than last week, and £ 1 10s above the quotation two weeks ago. Most works are sold until March or April. China and Japan are prominent in inquiries. John Lysaght, Ltd., Bristol, maker of sheets, has ac- quired a controlling interest in Joseph Sankey & Sons, Ltd. The Low Moor Co. Ltd., Bradford, Yorkshire, roll- ing bars, sheets and shafting, and Robert Heath & Sons, Ltd., Stoke-on-Trent, Staffordshire, pig iron and rolled iron and steel, have just been amalgamated, Nov. 20, 1919 THE IRON AGE 7 FUGUNADADNANANAAUENAAAUEU SH AAEATAGEATALETEA AACA AAA EU ETA GUNA TA ALAA TOENAILS Prices Finished Iron and Steel, f.o.b. Pittsburgh Freight rates from Pittsburgh on finished iron and steel products, including wrought iron and steel PIpe, with revisions effective Nov. 1, 1918, in carloads, to points named, per 100 lb., are as follows: New York, 27¢.; Philadelphia, 24.5c.; Boston, 30c.; Buffalo, 17c.; Cleveland, 17c.; Cincinnati, 23c.; Indianapolis, 25¢.; Chicago, 27c.; St. Louis, 34c.; Kansas City, 59c.; St. Paul, 49.54c.; Denver, 99c.; Omaha, 59c.; minimum car- load, 36,000 lb. to four last named points; New Orleans, 38.5¢.; Birmingham, 57.5c.; Pacific Coast, $1.25; mini- mum carload, 80,000 lb. To the Pacific Coast the rate on steel bars and structural steel is $1.315, minimum carload 40,000 lb.; and $1.25, minimum carload 50,000 io. On wrought iron and steel pipe the rate from 1 ictsburgh to Kansas City is 50c. per 100 lb., minimum .arioad 46,000 lb.; to Omaha, 50c