The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-10-21
COPPER AND SPELTER
STILL IN GOOD DEMAND
DISCUSSION OF MARKET BY
LEADING EASTERN MINING
PUBLICATION.

Inc nrSL ~ Gays OF OCLODeF nave
proved most satisfactory TO the cop
per producers In the demand for the
red metal and the price received for 1t.
The foreign demand Is continuing to
hold up well and the indications now
are that the price will not go below
the 1S-cent mark during the entire
month
The improvement begun during the
last two weeks in September contin-
ued steadily through the first week OF
October. The price at which sales
were made freely reached the 1S-cent
mark and held there.
Domestic buyers have come into the
market since the foreign buying move
ment took on such proportions.
The official closing quotations on
copper in New York for September
We're 1880 and 1885 cents per pound.
The price of spelter is holding well
also. In discussing the copper and
spelter markets the Engineering and
MhAhS oouludi says.
Copper Market improves.
In copper the Improvement noted In
our last report continued and at the
beginning of our week of records, sales
began to be made more freely at IL
cents, regular terms, equivalent to
about 1890 cents cash, New York, al
though there was little shading OF
that price In some quarters It was
noteworthy, moreover, that the buyers
were now principally domestic manu-
facturers, whereas In the previous
week the sales had been chiefly for ex-
port. By September 25 the principal
producer had sold all it wanted to at
is cents, regular terms, and then II
raised Its asking price to 1914 cents,
expecting the market to rise to that
figure. On September q the market
was rather irregular, considerable
sales being made at a variety of prices
ranging from 1875 cents to 1871 cents,
both regular terms. Apparently the
market had not become firmly estab-
lished on the 18-cent basis although
more than one of the large producers
had raised their asking price to 18A
cents, and some sales We're actually
made as high as 1915 cents. Perceiv-
Ing this situation, other sellers appar-
emily became more liberal in their Of
fers to furnish supplies at Is cents,
and at the close good deal of copper
was still available at that price.
The buying in this market was
chiefly by domestic brass makers.
There seemed to be rather more in
quiry for wire bars. On the other
hand, the demand for cakes was rath-
er light, the business of the rolling
mills still being slack The striking
feature Of the domestic copper buying
last week was that the consumers did
not exhibit the signs of acting in con-
cert, that they have upon previous oc-
eastons. The aggregate of the trans
actions during the week was fair, but
the total did not attain any such pro-
portions as to excite special comment.
Spelter for Future Delivery.
The spelter market has worked It.
self into a more peculiar position than
ever. A rather large tonnage was sold
during the week and the curious thing
Is that this was mostly for delivery In
the first quarter of 1916, while there
was but relatively little business done
for prompt delivery or for deliveries
anywhere during the last quarter of
1915. Considering the latter as the
market for ordinary contracts. prices
ranged from IL to IA cents in the lat
ter part of the week, which was q
slight advance from the beginning
Business done for the first quarter OF
1916 was at prices from 10h to 11b
cents. The orders for this spelter came
from abroad. But little domestic bus
mess was done during the whole week
indeed, consumers might be charac-
terized as apathetie. On the other
hand, producers evincer no eagerness
to sell, although the supplies available
are not perhaps so small as is repre-.
sented