TRADE IN U.S.A.'

Auckland Star, Volume LXI, Issue 188, 11 August 1930, Page 4

TRADE IN U.S.A.'

When the last mail left New York re|o?ts of Sde in the United States were far from satisfactory. Writing of the iron and steel division, which is usually considered as providing a barometer foi general business, the "Exporters and Importers' Journal" dated June 24 says:i'lt is said that indications point to a final check on pig iron, sales made a t New York during the past week which showed totals of 5000 to 6000 tons or less than for the past several week's. Business conditions have not been such as to create much confidence on the part of iron users. The steel industry as a whole is dragging and no improvement is looked for beiore early fall. It is said that foundry operation's as a general average in the Jiast arc but little better than 50 per cent of capacity. An outstanding feature is the stability of prices, and while commodity and stock market values have been steadily declining, pig iron has held firm. Nevertheless, the iron market has an easy undertone and it may be that there have been no price changes merely because ot their not being enough large tonnage business to give quotations a thorough test.