MESSRS. R. FELDTMANN & CO., of Glasgow and Workington, in their market report, dated Glasgow, 16th May, 1899, say:  -  Since our report of 9th inst., the iron market has continued firm with a large volume of business and numerous smaller fluctuations, the highest point was touched yesterday at 64s 0-1/2d cash for Scotch, and 64s 6d for West Coast hematite warrants.

 

The movements in the different kinds of warrants were as follows:  --  Scotch warrants, between 62s 3d and 64s 0-1/2d cash, closing last night sellers, 63s 11-1/2d cash.   West Coast hematite warrants, between 62s 4-1/2d and 64s 6d cash, closing last night sellers, 64s 4-1/2d cash.   Cleveland warrants, between 43s 6d and 55s 7d cash closing last night sellers, 55s 4-1.2d cash.   East Coast hematite warrants were not dealt in nor quoted. 

 

To-day's business in Scotch warrants was at 63s 9d to 63s 10d cash, and 6y3s 11d to 64s a month, and they closed sellers 63s 10-1/2d cash and 64s 0-1/2d a month, buyers 1d less.

 

The shipments of Scotch pig-iron last week amounted to 6,214 tons against 5,810 tons during corresponding week of last year.

 

The number of furnaces in blast is 82 (of which 47 are on hematite and basic iron) against 75 at the same date last year.

 

In the West Cumberland and Barrow districts great firmness prevails.  Makers' nominal quotations are 63 to 65s for No. 1, 2, 3, bessemer iron f.o.b. usual West Coast ports.  The shipments last week were again unusually heavy.   Hematite warrants were strengthened during the last few days by the conviction gaining ground that the prices are very low compared with the other kind of iron, considering the advancing prices of ore and coke, and also to some extent by good reports from America.

 

To-day business was done at 64s 1-1/2d to 64s 5d cash, and 64s 4d to 64s 6d a month, and the close was sellers 64s 5-1/2d cash, and 64 8-1/2d a month,, buyers 1/2d less.

 

The shipments during last week from West Cumberland and Barrow districts amounted to 31,058 tons of hematite pig-iron and steel, as against 28,522 tons during corresponding week of last year.

 

The numbers of furnaces in blast in these districts is 42 (of which one is on spiegel) against 41 at the same date last year.

 

The Middlesboro' market for Cleveland iron is strong.  Shipments somewhat exceed those of last month, and very greatly those of the corresponding month of last year.  We quote No. 3 marker's G.M.B. nominally 56s f.o.b. Middlesboro' (Commission and Tees dues extra).

 

Cleveland warrants changed hands at 55s 3d to 55s 4-1/2d cash, and 56s 8-1/2d a month, buyers 1d less.

 

East Coast hematite warrants have not been named.

 

The shipments from Middlesboro' last week amounted to 28, 864 tons of Cleveland and hematite pig-iron, against 21,605 tons during corresponding period of last year.

 

Copper has been idle last week, and no business in it transpired until yesterday, when one transaction took place at £78 cash, it closed sellers £79, buyers £78 10s cash.

 

There are no quotations given for three months.

 

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