The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-08-25
COPPER STATISTICS.

While II IS undoubtedly 20 be wished
that the favorable statistics for July
had been developed by increased do
nestle deliveries rather than by di-
minshcd production due TO merely
temporary conditions. II is neyerthe-
less TO be- recognized that the reduction
of the worlds accumulation by about
2i.O0O.00O pounds is suspicious, says
the Engineering q Mining Journal. At
the middle of 1910 the total visible sup
ply was about lOloOOOOO exclusive OF
the stocks at Hamburg and Rotterdam
that were not then reported. At the
end of July, 1871, The total was about
100000 900 lbs. inclusive of Hamburg
and Rotterdam. In fact, the accumu
laton has been reduced In thirteen
months by about 120.O0o 600 pounds in
spite of the undiminishcd production
ana the commercial reaction In the
United states
The present stock of copper rs ncith-
Cr alarming nor very uncomfortable.
II we accept the statistics of the Me
tallgcscllschaft, usually reliable, the
worlds consumption OF copper in 1910
was about 1873, million pounds, of
which $50 million is about lG % per
cent. or about two months supply.
II should be borne in mind that the
present surplus should be viewed I'm
comparison with the present consump-
tion. not in comparison with that Of
IT, To-
consumption was $4,000 metric tons
against 65S.S0O In 1907. and In 1910. for
the first time i'm years. consumption
surpassed production. The reduction
i'm stocks in 1911 indicates that the
same condition has prevailed So far
during the current year II is further
more 90 be borne i'm mind that the
present visible supply represents most
Of the copper that is Immediately |
available. the brass makers. wirCdraw- |
ers and sheet rollers carrying far less /
in their yards than they used 10 do /
The stock of copper can never be re- /
duCed 90 zero. II must be maintained /
at "a considerable figure in order to
conserve the conditions Of trade and !
manufacture. We are Of the opinion |
that there ought for ordinary safety /
10 be sixty or seventy-hvc million /
pounds in hands Of American rehners |
and about zoe million pounds in Eur
ope and America combined.
The copper market has worked itself /
into better statistical position than it
has held for long time. The matter
Of concern is, Of course, whether the
Improvement IN consumption is going
to swell with sufficient rapldity TO alb
sorb the new production and continue
10 eat into the stock American man
ufacturers who pcrsevcrc in their poll
icy Of hand-to-mouth buying are clear
~ OF the opinion that such develop
ment is not % bc expected Con-
sumption is however. capable of great
increases. especially under the stimu-
lus of low prices Thus the worlds
consumption Of 1905 was nearly : per
cent. IN excess OF that OF 1907, that Of
1903 was over i per cent. above that
OF 1905 and that OF 1910 showed an
increase Of more than l3 per cent. Dur
ing this period tho demand overlook
the production, swollen by the new out
puts OF Utah and Nevada. II con-
sumption continues 10 increase at the
same rate as In the last three years
it will take care OF the outputs Of
Miami Ray. Chino. Bradon ana Boz
nanza AT their contemplated maxi
NUNS, which by the way. will hardly ,
ha affa fr,I b.f,r, .r,tJ,,t. ,i,,tt.r.,, 1 .