Show METALS MARKET MARKETIS IS DESPONDENT Trade Holds Back Despite Sinking Prices NEW YORK YORI y Nov 20 A A continued shrinkage age in new business was the feature feature feature fea fea- ture in the steel market this week Buyers Buyers Buyers Buy Buy- ers apparently convinced price recessions recessions recessions reces reces- are inevitable are withholding orders orders or or- ders deIs except for some finished products In fact business is so so small that prices remain largely nominal and the improvement improvement improve improve- ment is mainly a surface condition Judge Garys Gary's announcement that the steel corporation would recommend to presidents of subsidiary companies that the present base selling prices on all aU commodities commodities com com- be continued in force created a favorable sentiment Pig iron continues weak and values are gradually sinking Some furnaces are closing down rather than reduce prices further e Copper has shown renewed depression Th The more pressing needs of consumers w were re evidently supplied on on the the recent buying movement and demand has flattened flattened flat flat- t ned again with price shading by second hands giving the market an unsettled tone Leading producers are showing more inclination to reduce their output than to cut prices In an effort to stimulate stimulate late immediate demand and it is estimated estimated estimated esti esti- mated curtailment of production averages about 33 3 1 per cent It Is reported copper copper copper cop cop- per can be bought for for January shipment but producers are generally maintaining their quotation of ot 15 cents for later deliveries in the first quart quarter or Tin has shared the general depression with consumers still out of the market Lead dropped another half haf cent but even at the decline buyers show little interest and firmness in London was ig Ig- Ig nored Zinc continues weak owing to indifferent ent demand iemand To reduce supplies some holders are offering concessions and several se sev se eral companies have curtailed output output output out out- put for lack of ot orders Antimony remained dull and weak dropping to 6 G cents in il absence of or demand i i I I I |