The copper era and Morenci leader. [volume] (Clifton, Ariz.) 1911-1929, 1914-08-28
WALKERSEESBR|GHT
OUTLOOK FOR
COPPER
Some Exports Made During Month
Amounts to More Than 10000, 900
Pounds to England

ROUNDS TO England
Geo. L. Walker, writing in the
Boston Commercial, under date o.
August 81, on the copper situation
says:
Copper is quiet and prices have sag
ged little lower in the domestic
market. Lake is selling at IL SO tc
IL 3-4 cents and electrlytic is IL 3-s
to IL IL cents pound. The outlook
for the metal market is becoming de
cidedly brighter, however, and there
is a good prospect that prices may
soon be higher. Exports of copper
are being made in increasing volume
During the first II days of this month
13,569,920 pounds went out, and the
shipments on the 18th amounted to
7,647, 1850 pounds, making the total ex-
ports of the 18 days 81 PIT ,280 pounds.
The greater portion of this copper
went to England, and electrolytic is
now selling around Ia IA to Is IL
cents a pound in London. However,
some of the copper shipped to German
and other European ports just before
war was declared has been returned
to this country.
If the exports continue to grow the
copper congestion in this country will
gradually be relieved, producers will
have lighter burdens to carry and
there will be less disposition to
press the metal for sale. While it
is hardly to be expected that the
European countries will consume the
normal amount of copper while they
are at war, they will find use for
lot of it if it is obtainable. The
manufacture of ammunition must be
a thriving industry throughout Eu-
rope at the present time and car
fridge shells are made of copper In
actual warfare it requires many hun
dreds of shots on the average to
kill one man.
The building up of trade in manu-
facturers of copper with South
American and other countries outside
of the war area is likely to have a
slow growth, due to the high rates now
charged for shipping insurance and
the necessity of our exporters taking
time to study credits before consign-
ing goods. Considerable business,
however, probably can be done on a
cash basis, and meanwhile credit ar
undoubtedly will be made.
1t is certain that the countries now
at war were manufacturing for ex-
port a large portion of the copper
they purchased from US, and sooner
or later we shall find way to sup
ply that trade.
Business is always a speculation
and sometimes it is more so than at
others. Apparently an unusually at
tractive opportunity is now present
ing itself to our manufacturers of
standard copper and brass products to
speculate. They know that their
in Europe are largely
Idle, or that they must soon be if the
war continues to deny them adequate
supplies of raw materials and ship
ping facilities for their products, and
that this must result in a shortage
Of such manufacturers in the worlds
trade by the time the war ends
AS to raw materials, they are avail
able to American consumers now at
low prices. Our manu-
lecturers know, also, that the pro-
1uction of copper by the mining COM
)apies operating on this continent is
being curtailed at the rate of 25 to
80 per cent, and that several mines
nave closed down altogether. The
average reduction in output IS prob
IDLY 40 per cent. If this curtailment
continues for any considerable length
If time there is sure to be shortage
n the supply of copper some time
lfter peace is restored, which un-
ioubtedly will cause the price of the
METAL to advance several cents a
,ound. The risk assumed by those
Who bury copper N large quantities
It around II IL cents a pound, there
ore, cannot be considered at all
hazardous.
Taking all these factors into consid-
ration, it certainly appears that it
would be good business practice for
hose American companies having the |
actory capacity and cash or good |
redit to buy large quantities of cop
'er and manufacture it into sheets, |
wire, rods, castings, etc., of general |
se and have these products ready for |
he strong demand that is reasonably |
ertain to develop a few months or a |
ear hence. This is time when all |
wners of copper and brass mills in |
he United States should question the |
Instability of holding to their long
Established policy of finding a market
Or the goods before making them.
No one has any reason to think |,
hat the price of copper will remain
its present low level for any
considerable length of time. The |,
tandard manufacturers of this metal i
nat may be turned out now unques-
Ionably can be sold profitab1y at |,
ONE time in the future, to the do :
lestic If not to the foreign trade.
here must continue to be a market
emand for sheets of popular weights |,
r thicknesses and for copper wire of
tandard sizes, whether the European
ar lasts two months or two years.
Producers of copper probably can
epend upon it that some of their
lrge domestic customers will embark
pom the policy outlined and that /
Tithin a short time there will be a
realty increased demand for copper. h
hey may expect a continuing growth
{ the export movement also. The |;
europeans must have copper for war
ses, and some of the belligerants are
nding a way already to import it