The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-02-06
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From Engineering and Mining Journal.
The market has displayed unusal activ-
ity and the tendency has been stronger
than was witnessed since last fall The
reasons for this sudden change have al
ready been partly indicated i'm our last
issue when we called the attention of
our readers to very eager and large de-
mand for export, which at the beginning
of this week assumed such proportions
that producers raised their prices, the
more so as there was a general DISPOSE
ton among manufacturers here TO lay i'm
supplies, something which they had not
thought of doing up to a few days pre-
vious. In the opinion of some prices adj
vanced far more than seemed warranted,
others again contend that the quantities
available proved very much smaller than
had been anticipated and the latter seems
70 be true i'm so far as exports during the
last few months have been much heavier
than usual. In addition TO this many of
the producers have sold largely for ship
ment abroad for two or three months to
come, and especially may this be said of
one group of mining companies which are
nearly sold up in this direction.
Lake copper which sold last week at
csc is not now obtairablc at less than
lOltc, and apparently very little at even
that price. y large business was done i'm
electrolytic copper at prices varying all
the way from yi2c TO l0c, the last-named
figure being the closing quotation. Elec-
trolytic copper in cathodCs IS quoted at
97sH934c, and casting copper at the same
price.
The foreign market, which closed last
week at 81 IS Cd, opened on Monday at
eI2 IS, advanced subsequently, to Gi3 IS,
reacting then to G42 LIS Cd and gained
another advance to Gii 2s Cd, but closes
somewhat easier at Gi3 15Sn cA for spot
and Eil 2s GdH CA IS sd for three months
prompt
The advance appears large, but 1t Is
stated that the buying has been done by
strong financial institutions, perhaps
with the view of establishing a higher
market for copper shares, maybe also be-
cause the metal was considered cheap on
its own merits but foremost of all in view
of a prospective large consumption. Val
ues for the better grades of copper adj
Vanced i'm proportion. and inasmuch as
consumers have not supplied themselves
far ahead, at least not largely, the adj
vance may be maintained. Prices for
manufactured kinds are as follows: Eng
lish tough, Ei7 Jsh Gi1 los; best selected,
GiSN cas- 5s: strong sheets, GJlm G5 los:
India sheets, E52 los1 SIS; yellow metal.
4ard.
According to the statement Of the hu-
reau of statistics treausry department
the exports of domestic copper during the
month Of December were 5.2J9 long tons
of fine copper and 2,5'4 tons of matte Re
duCinE the matte at s. per cent. this gives
a total exported from all the United
States ports equivalent TO GGg9 tons of
fine copper for the month. Imports in
cluded 81 tons of fine copper, and 7S3
tons Of ore and matte. Re-eNuorts Of for
eien copper included q tons of fine copper
and 13l tons of ores and matte.
Mcssrs. James & Shakespeare's circular
reports receipts of copper I'm Great Brit
ain for the half month ended Jan. Is at
5000 long tons, OF which 1888 tons were
in fne copper and l.i@1 tons i'm matte. pre-
cipitatc and ores. Receipts in France for
the same period We're 2f5 tons. Deliveries
for the period We're : loo tons i'm Great
Tritain and 2iS tons in France. f35i tons
in all. The visible supply on Jan. Il was
Al qiS tons. a decrease of 800 tons from the
amount reported December 81. This does
not include quantities ahoat which were
estimated as follows: From Chile. $500:
Australia, 100: America, 5000; total,
900 tons. against $500 tons afloat on the
corresponding date last year.