The Daily Reporter from Dover, Ohio • Page 17

Scrap-iron Prices Drop CLEVELAND (AP) fag steel operations arm other factors ate forcing steelmaWfig icrap prices down "in an an- Jsually quiet market," steel Magazlfre reported today. was almost at a at fttfebiffgh last week," and "further wakness" has developed at Chicago, the metalworJdng weekly reported. Steers coftfioslte weekly lte price on No. i heavy melting grade slipped 25 cents to $26.25 a gross ton last week, "and the downtrend Is ntinuiflg," steel said. the trade publication says while steel operations are slowing down in the second quarter, market analysts are looking for more active demand than usual in the summer months.

There could be a reversal of the traditional market patten, Steel said, and the "ordinarily sluggish third quarter may outdo the normally brisk second quarter. "At the very least," it was reported, "new orders and shipments will probably hold on a plateau until the last three months of the Expected easier money and credit, "along with government antideflation measures (particularly the restoration of the per cent investment tax credit and the resumption of federal spending on programs that had been held up since last fall) should be showing up in new Steel orders and shipping instructions," Steel said. Steel production slipped last week to an estimated 2,390,000 tons compared with 2,434,000 tons in the preceding week. Lots of minced canned pirn- lento is an excellent addition to creamed shrimp or crabmeat. Pate The Daily Reports, DOTCT, 0..

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