Show STEEL PRODUCTION STILL HOLDING UP NEW YORK April 10 M Iron UP-Iron Iron Ago said today that while the producing reducing rate had declined one poInt to 46 per cent of oC capacity aggregate business volume is holding holding hold- hold ing ng up much better than hal had been expected In the previous week the he mills were operating at an average average average av av- av- av of 47 per cent Steel buyers continue to show extreme extreme ex ex- trenie caution according to the re re- re view The emergency advance in freight rates scheduled to go into effect April 18 has mildly stimulated stimulated pig Iron shipments but otherwise otherwise other other- wise has had little effect on the theiron theiron theron iron ron and steel market said the summary While the automobile Industry is s no longer bu buying ing at the rate it did in January and February when it t was accumulating stocks it It continues continues con con- to be a leading source of oC demand Construction continues to lag behind behind behind be be- hind a year ago structural steel awards to date totaling tons compared with tons in the cor corresponding g period in 1934 the review continued The passage of the federal works relief bill however will mean the release of many projects which have been held up for lack of funds Some of this work may get under way by summer and bolster mill operations when demand from other sources ordinarily slumps The reviews review's scrap composite has reached from 1075 to 1042 a aton aton aton ton following reductions at Pittsburgh Pittsburgh Pittsburgh Pitts Pitts- burgh Chicago and Philadelphia |