The copper era. (Clifton, Graham County, Ariz.) 1899-1911, 1907-05-16
Walkers Weekly Copper Letter.

walkers weekly topper Letter.
The copper market is beginning to
look decidedly firmer Producers are
holdings out for 254 to 26 cents for
lake and 25t cents for electrolytic.
There is now every reason to believe
these prices will be maintained for a
long time to come. The period of
uncertainty is apparently at an end.
Had there been any surplus copper in
existence, either in this country or
abroad, the price undoubtedly would
have been forced down to 20 cents or
lower. A small amount of copper
did come on the market and was sold
at about "a cents. Those consumers
who we're fortunate enough to get
portion of this cheap copper have
reason to congratulate themselves.
My advice to consumers who have
failed to provide for their June re-
quirements is to buy copper imme-
diately, provided they can secure it
at lower prices than those quoted
above.
Those in a position to know most
about actual metal market condi-
tions, statistically and otherwise,
now express the belief that copper
will not decline below % cents this
year. They are very confident that
the entire years production will find
market at this level. 1t is certain
that the largest producers will not
consent to a reduction in prices until
small surplus begins to accummu-
late in their hands. They declare
do business on normal basis, as they
have no copper with which to supply
any immediate and unexpected de-
mand which may come from their
customers. They compare them
selves to the retailer who carries no
goods in stock and is obliged to make
customers wait while he sends out for
the articles which they may desire.
In the case of the copper, however,
consumers must wait until the cop
per is produced and refined.
Just at the moment there is very
little enquiry for copper. Consumers
are still disposed to await develop
ments. So far as this is concerned,
however, the recent agitation and
business uncertainty, arising chiefly
from the break in security prices,
has made very little difference. Con-
sumers had already bought their
supply of May copper, and the
greater portion OF what they will re-
quire in June. They were not ex-
pected in the market again until
about the first week in May; and
there is now every prospect that the
buying and selling will occur at the
usual seasonable time without any
furry or change in quotations.
A great deal of interest has been
aroused by the persistent advance in
copper warrants in London. 1t is
now reported that the selling agency
which has been talking bearish for
some time past was responsible for
the big break in &c. M. B." copper
prices several weeks ago. It's man
ayers, who haYe never been accused
of lack of business ability or short
sightedness, are said to have discov-
cred very bearish disposition in
European copper circles, and to have
taken advantage of it by creating a
bear market and then buying all Of
ferings after the decline got we'll I'M
der way. Deliveries were demanded
on the contracts, and the copper is
now being imported and refined in
this country. The "coup" is said to
have been very highly successful, a
great many million pounds of copper
being secured at such low average
prices that it will stand the buyers,
after refining, about % cents per
pound. The big profits will be sup
piled chiefly by British and Continen-
tai copper consuming interests.