The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-26
COPPER AT 27 CENTS
Is NOW PREDICTED
Record Breaking Production
Caused by Great Demand
for Metal.
BIG BUYING FOR EXPORT

The copper trade last week eained
benefit from the placing Of additional
large contracts for war munitions. Buy
ing OF electrolytic copper was heavy for
both domestic and foreign shipment. The
increased activity was accompanied by
feyerNh excitement, with an advance of
lc. per pound for almost any delivery
over 1915. As noted during the week.
the largest single ~transaction was So.
ooO tons for the British Government.
which was sold by four different Amer
lean producing interests at 2oc. per
pound or under. Other large contracts
vpre closed by domestic consumers, In
chida electrical equipment mapufactu-
rars. wire drawers, brass founders and
rolling mills, prices ranging from. zoe.
10 Gle. per pound. BY far the largest
b,clng was to cover contracts for war
munitions and copper deliveries in most
cases will cover the life of such con-
tracts
Il is indicated that sales OF refined
eoper made in the last three months
have exceeded production at the present
record breaking rate by At least 10O.-
100000 pounds. Apparently contracts
on the books OF the large producing In
terests are sufficient to carry them well
over the first three or four months of
next year. but when the entire year OF
1915 is considered the sales sheets are
lees Impressive. In this respect the cop
per industry's experience Is parallel with
that Of the steel trade.
The total production Of refined copper
II 1918, 1t Is indicated, will be approx
mataly the same as In 1914 and the
total available supply slightly under that
Of last year. Exports. Of course, have
fallen on heavily. but deliveries into d o
nestle consumption were never 50 large
while the total deliveries were abou,
$50, 600, 900 pounds greater than In 1914
II Is confidently asserted by both
produning and consuming interests thai
the momentum gathered by the marke,
IN the last few months will carry prices
to . new high level I; predictions OF cSc
% &c are made by those without as wei
- within the trade. Electrolytic copper
to-day is selling At the highest price
since October, 1906. but before that veal
ended sales had been made at 23Tc
The highest price ever reported was In
March, 1907. when round lots old q,
B&c. and small lots as high as zee. pei
pound.
The result of the fluctuations in the
London standard market last week wa,
an advance of f3 IS. Sd. to Is IT'S Sd.
while American eieetroiytfc sold at flo;
spot, an advance Of IS.
Tin after advancing early In the week
here and abroad, subsequently developed
. weaker tor with freer offerings re.
sult!ns in a decline OF 1Lc per pound OF
spot at New York and f2 at London fol
Straits, but was up fl on Friday. TIL,
London standard market recsded fl los
on spo and futures UP to Friday. wher
there was an advance Of e.. The Sing,
apore market was maintained at a rela'
lively higher level than the English mar
ket, but closed heavy and weak. Spot a
New York was held at 80 to 3SLsc. lat,
On Friday.
the first of December have been 3,69;
tons and 1875 tons additional will prob
ably arrive in time to make Decembel
deliveries.
Refined spelter was unsettled. irreg
ular n more or less erratic. Interes
vas mainly in future POSITIONS freigh
congestion at New York making tradin,
10 spot and December precarious. Tn
net advance at st. Louis was sc. "a I,
per pound. spot closing at 17hc. an
December at 17Ec. The London marke
vas steady at $50 for spot and Els 70
futures.
Lead was in fair demand and stronge
IN tone. with sales mainly for Decembe
delivery at Sc. Louis at prices ranginI
from $50 to 5.35c. per pound. The Ne'
York market was largely normal at "a
to 5.i5c for spot London was firmer Il
tone, with pot los. higher.