Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1885-05-22
THE OUTLOOK FOR COPPER.
The Supply and Demand Furnish Little
Hope For Increased Prices.


Whether there is any prospect of an
advance in the prices of copper is a
question Of considerable interest to
mining men. The prices of silver and
lead are not the only things to be con-
sidered as affect ng the mining industry.
The AMOUNT paid for copper in the gold
and silver bearing ore is so much less
than it was two or three years ago that
the loss is great enough to affectprofits
and in some cases curtail mining oper-
ations, even where the precious metals
are the ones for which the mining is
conducted. Naturally, mining men arc
hoping for an advance in the price OF
copper, which has frequently been
promised, but is apparently as SLOW in
coming as the advance in prices OF
silver or lead. Is there any hope for a
realization of the promised advance?
Copper prices are governed entirely by
the supply and demand, and the ques-
ton is not complicated by the present
or prospective demand for its use o,
d;suse as money. Looking at the worlds
demand and supply. it appears as
though n m; ght form some eason
able conclusion as to any probable adj.
vance. The amount used by the world
is steadily increasing, and as new in.
ventions are made and population in.
creases, the demand may be expected
to increase. But unless some entirely
new use for the metal is discovered,' no
unusual or sudden demand can b ehoped
for. The production of copper has ad.
vanced very muchfastertha thcsupply,
hence the drop in price. During the
past year there was a gain Off, 80Otons
from Chill, LOO tons from Australia
and a decrease of g. 00tons from Spain
and Newfoundland, leaving a net gain
from other countries of 1900 tons. Blu.
the gain in the United States has beer
more important. In 1880 we imported
copper to supply our home demand.
Since then we have been exportingcop
per in increased quantities each year.
until the last, when we exported H. 500
tons. The increase of the supply and
consequent decrease of price has caused
the metal to be used in many
ways in which it has not. been gener.
ally used until the past two or three
years, so that the stock of copper on
hand has not increased. But that new
demand, caused by low prices, would
probably not continue il the cause
which created it ceased to exist. II
the present supply, then. can be ex-
pected to continue the low prices can
be expected to prevail. The large in
crease in American production came
from Arizona and Montana. There are
four smelling establishments in Ari-
zona, turning out about II, 600 tons of
copper per annum, where there was
very little produced until the advent of
RAILWAYS to that country during the
past four years. But the great
est increase has come from
Montana, notably from the
Anaconda mine. During the past two
years the production at Butte, where
the Anaconda is situated, has reached
90 900 tons per annum. Can this in
creased product be long maintained, so
as to continue to deprcss prices? 1t is
not likely that it can at Butte. There
the product has been mostly from rich
surface ores, which a not be expected
to continue as rich as depth
is gained and purer sulphide ores are
reached. IN Arizona and New Mexico
there are vast cooper deposits yet I'M
touched which can be called upon to
supply any deficiency that may arise
from q decreased product at Butte.
Many of them are now idle, owing to
litigation over titles, Or are located up-
on grants and are simply waiting until
the grant titles are perfected in order
to be worked. Arizona and New Mexi-
co.'s product can be relied upon to be
increased, even at present prices. Ow-
ing to the peculiar circumstances sur
rounding the Lake Superior copper re-
gion no material change can be looked
for in the amount of its product. The
few mines that are 10 producing at q
profit may be expected to continue. and
Calumet and Hecla is arranging to in
crease it's output. If any of the mines
now just paying expenses should shut
down they could be relied upon to COM
mence again with an advance of prices.
With no prospect then of an increased
demand or a decreased supply in tho
immediate future the outlook for better
prices is gloomy enough.--Dcmver Tn
bune and Republican.