Chemical & Metallurgical Engineering Volume 5 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 Excerpt: ...of erection. Pic Iron. The market has been very quiet. The chief tonnage has comprised a few sales of Northern and Southern iron for delivery in the first half of 1908, and some resales of pig iron, originally purchased by Milliken Bros., who failed, and whose steel plant on Staten Island has been closed indefinitely. For this failure the heavy advance' in pig iron in the past three years, relative to finished steel products, is directly responsible. The steel plant should not have been built without blast furnaces and an adequate supply of ore. Blast furnaces are fairly well sold up for the balance of the year, and a quiet market is to be expected for several months unless the market for 1908 delivery should open up in a large way. The fancy prices for small lots for prompt delivery have largely disappeared. For third quarter delivery there has been a slight recession, but fourth quarter prices arc substantially unchanged. The market f. o. b. Mahoning or Shenango Valley furnace (90 cents higher delivered Pittsburg) is substantially as follows for second half delivery: Bessemer, $23.25; basic, $23.00; No. 2 foundry. $23.00; gray forge, $22.00; Southern, No. 2 foundry, f. o. b., Birmingham, is about $20.00 for second half, with $18.50 quoted for first half of 1908. Steel. Early in the month two or three steel mills concluded to market a larger portion of their product in the form of billets, taking the supply chiefly from their structural mills. The largest seller has marketed between 40.000 and 50,000 tons of billets through following this policy. The Steel Corporation has not appeared as a seller, being still under pressure to carry out prior obligations. The market has receded but slightly. Bessemer billets can be had. delivered Pittsburg, at $30, with 3p...