Bisbee daily review., 1905-12-03
METAL AND MARKETS.
Decreased European Buying This Year Means Heavier Demand Next. China Is Not Selling.


 China Is Not Selling.
 The indications continue for an en- ormous consumption of copper next year, principally on account of the in creasing use of the metal for electri- cal purposes.
 The bear arguments are that Flu rope has consumed 40,000 tons less copper this year than last. says the American Metal Market. If true 1t would seem all the more reason this falling off should be made up next year, as certainly the commercial uses for which the metal is necessa- creasing; Rlsp, that peesent prices show an enormous profit to the foTtu. nate owners of copper mines. This is true, but that such profit should be possible is because demand is ill eX- cess of supply.
 It is not reasonable to suppose that at present prices producers are doing anything except to turn out the met al and market it as rapidly as possi ble. Again, that nearly 10000 tons shipped uo China. is not used and may be reshipped to Europe and America. If this stock exists, which We do not believe for one moment, how is it that the fortunate holders | who bought it at ? to Sc per pound un- der the present market do not resell it? They evidently do not have it, or else believe in higher prices. By Senator W. A. Clark. Copper conditions are better than they have been in many years and good prices will continue for a long time" says Senator w. A. Clark. All over the world the use and demand for copper are constantly increasing and the output is scarcely up to the demand. It is impossible now to 1 buy any great amount of copper at | less than three months delivery. The present high prices are justified by ! conditions.
 "On careful inquiry I find that the :, output of Montana and other produ cing sections is 10 percent greater this year than last, and next veal 1 will be even greater. There will be no letup in the demand for copper for the uses of the red metal are con stantly expanding. Russia will have l to build an entire new navy, and Ja- pan will increase its naval strength. The demand for copper in electri- cal work is growing enormously. and wherever steel and iron are used cop Der is needed. The copper industry certainly has a long and bright fu- ture.'
 Statement by J. R. Stanton.
 Regarding the copper situation John K. Stanton is quoted as saying: Producers are expecting no difficult " in selling their produce at r cents a pound, and large quantities for fu- ture delivery are being sold above that figure. Stocks on hand amount to practically nothing.
 We are out of the market for the time being. and there is no copper to speak of available for immediate de- livery. Consumers are now buying for January, February and March de- livery. Many of our customers have underestimated their requirements. and are asking us if We can not antic- ipate deliveries.
 We are not in favor of a further advance in the metal, but it now looks as though hihger prices could not be prevented. The demand comes from all over the world China and Janan are taking large quantities. The lat Ter country will continue 10 buy Amer lcan copper until her own mines are in operation. The demand contin- ues good from all sources. As soon as a pound of copper is smelted it is off to the consumer. Notwitbstand. ing the upward tendency of prices there is nothing artificial in the mar ket, and 1t is also free from specula- tive buying"
 A Houghton dispatch says that the Quincy smelter was run last Sunday 10 hll a rush order The several smelting wharves at the lake are practically bare of copper. despite the very general forcing of production in order to take advantage of the rail and lake rates. which will be availa, l ble for about ten days more.
 Within the last three days there have been imports of 1421 tons at New York. among them being 200 tons of |, Rio Tinto bars from Spain. the first i in the history of the trade. There | were also 25 tons of ingots from Havre and 505 tons from Chili. Att Baltimore 653 tons have been receiv- ed from London and 3S tons from Liv- erpool. Imports are averaging at | present at the rate of over 10, 1000 tons per month.
 Mexican Exports of Copper.
 The exports of copper from Mexico | to France during the ten months from January to October inclusive during each of the three years were: In 1903. 2505 tons; in 1904, 4340 tons; in 1905, 4607 tons.
 Mexico's production of copper in | 1903 was 45.315 tons, and in 1904 was SG.945 tons, showing an increase of 5e30 tons, and giving Mexico the sec