Messrs. R. FELDTMANN & Co., of Glasgow and Workington, in their market
report, dated Glasgow, 25th April, 1899, say:
Since our last report of the 18th inst. our iron market has been very
lively, and warrant prices have advanced in leaps and bounds. Scotch warrants
closing to-day about 4s per ton higher than last Tuesday. The rise was caused
by the first instance by some heavy speculative purchases, and latterly by
bearers getting frightened and rushing into the market to cover previous sales.
As usual customers have also bought more freely when they saw prices
advancing. The fluctuations in the values of different kinds of warrants were as
Scotch Warrants between 55s 3d and 58s 11d cash, closing last night
sellers, 58s 11d cash.
West Coast Hematite Warrants, between 58s 10 1/2d. and 61s 1d cash,
closing last night sellers, 61s 3d cash.
Cleveland Warrants, between 48s 6d and 51s cash, closing last night sellers
51s 2d cash.
East Coast Hematite Warrants, between 60s 3d and 61s 6d cash, Closing last
night sellers, 61s 3d. cash.
To-day Scotch warrants moved up further, a fair amount of business was done
at 58s 11 1/2d. cash, and 59s to 59s 8d a month with various intermediate
fluctuations, closing below the best sellers 59s 2d cash and 59s 4 1/2d a
month, buyers 1d less.
The shipments of Scotch pig iron last week amounted to 7,019 tons
against 5,180 tons during the corresponding week of last year.
The number of furnaces in blast is 83 (of which 48 are on hematite and
basic iron) against 79 at the same date last year.
In the West Cumberland and Barrow districts prices are also hardening.
Makers prices at 60 s to 62s per ton, for No. 1, 2, 3, bessemer iron f.o.b.,
the usual West Coast Ports, but there is not much iron on sale. Hematite
warrants were sold to-day at 61s 3d to 60s 7d cash, and 60 11d a month, buyers
The shipments last week from West Cumberland and Barrow districts
amounted to 16,053 tons of hematite pig iron and steel as against 21,678 tons
during corresponding week last year. The number of furnaces in blast in these
districts is 43 (of which one is on spiegel) against 41 at the same date last
The Middlesboro' market for Cleveland iron has arisen to sympathy with
the other kinds, and No. 3 makers G. M. B. iron is now quoted 51s f.o.b.
Middlesboro (Commission and Tees dues extra).
Cleveland Warrants changed hands to-day at 51s 3d to 50s 6d cash,
and 51s 7 1/2d to 50s 9d a month, closing sellers 61s 1 1/2d cash, buyers 3d
The shipments from Middlesboro last week amounted to 32,041 tons of
Cleveland and hematite pig iron against 23,845 tons during corresponding period
of last year. Copper has also advanced about £2 10s during the week, and
closed to-day, sellers £78 cash, buyers 10s less.