The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-31
THE COPPER MARKET.
January CLOSES with Metal at ia
Cents Adyauce.

January was n very active month In
the copper trade Tho metal rose from
10 cents TO l43t cents under an enormous
buying demand. chiefly from abroad. that
was estimated yesterday to have exceeded
100000 pounds. war needs was the
chief factor entering into the situation
and was primarily responsible for a sen
sauonal market in spelter and a big de-
mand for lead az we'll
The purchase of one block OF 25. 0O0, 900
pounds Of copper by Russia from tho
American Smelling and Refining Company
was one Of the extraordinary develop
ments in copper. with deliveries EXTEND
ing over a number OF months 1t was gem
eral trade belief that this metal was to
he shipped to Japan where 1t would he
worked into ammunition for the Russian
army. There were other big Inquiries in
the market for copper metal. but owing
to the appearance since the European war
started Of an army Of so-called agents
who never produced any actual orders, al
though they were persistent in their re-
quests for quotations, that scepticism pre-
vailed over the appearance OF further
large requests
The year opened with copper metal adj
vaucing to 10 cents pound. During the
past week electrolytiC copper sold ae 14A
cents, delivered thirty days, but the
market was by no means general at that
/, lkhltt AbI fAlfi Illfh Ntit alltAt al AN'
same time OF April-May copper at IAN
cents thirty days. This irregularity rs 20
prices was one OF the features that could
not be readily explained.
Lake copper came into its own 10 some
degree for Michigan brands were selling
In many cases at a premium over electro
lytic. Lake sold as high as i4at cents
cash. Production of this grade OF cop
per win be materially increased by the
decision Of the Copper Range Consoli-
dated Company, controlling three mines,
to Increase output to capacity, or approx
mately 10000, 900 pounds year The
company had been maintaining a 80 per
cent curtailment
New production will start 10 come from
the various mines with copper at It's pres
ent price and with heavy demand
| There has been some domestic buying but
TO a very large extent this has repre-
scented requirements for war goods that
Will be shipped out OF the country when
manufactured. The strictly domestic d.
mand has not shown much gain accord.
| ing 10 producers statements
Speltcr has advanced In a sensational
manner and the market has become 81
confused OF late that ii has become very
! difficult and almost Impossible In fact e
| obtain reliable quotations. Sales have
/ been reported az high AS $50 cents, st
I Louis, while some producers with NOR,
metal to sell have been willing to market
between "a and : ~ cents "A pound. Lon.
| don has led the advance owing to IN,
] heavy demands for the metal. The shut
/ down OF the Continental smelters treat
/ Ing zinc concentrates, from which speltel
I comes have brought about a most turbu
len, condition and the United States
( heretofore feeding only IT, own require
meuts has been called upon to supply Ia,
/ world.
Lead has been advanced 20 2. so cents
pound by the American Smelling and Re
filming Company following heavy sales 70
, both domestic and export account Rus
sia. Italy and England have been biz
! buyers. This metal with spelter and cop
per go largely into tho manufacture O.
ammunition and other munitions Of war