The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-06
COPPER OUTPUT OFF
100000 POUNDS
Enormous Buying for Domes-
tic Consumption Feature
of November Market.
Much TIN ON WAY HERE

Il IS estimated that the output Of re-
o,ei copper in November was $4,000
oun pounds. or about 10000. 600 pounds
.csS than the record breaking output In
,.,oN,r. The deliveries into domestic
.,..swpton are estimated at 100000
puu hounds, probably the heaviest ever
r,ur-cd. and the exports wore mp
prnx!matciy $4,000. 900 pounds. or total
deliveries of 170.000.000 pounds. This
Indicates a decrease of about 10000
bounds in surplus stocks carried by the
r~.Iu.ius interests at the end OF the
month
The most prominent feature. how
eyer. during November Vas the enor-
NOUS buying for domestic consumption 4;
p-1hauiy 4" per cent. OF the purchases.
~.nNrycr. were made to satisfy foreign
contracts. Sales for direct export were
q, moderate proportions. The advance
M prices eliminated early last week.
since which time there has been a sharp
reaction in the open market, due TO
r4,sSlre to sell by dealers and specu-
i,tors. who are anxious to realize profits.
Butiug by consuming interests was
light. Second hands were still onering
e~'ret-o,,t.c at the close Of tho week
.' I.iyc.. but producing interests, strong
IN r~ostion, were quoting 1e$ to zoe.
far almost any delivery over tho next
ulree or four months.
The result OF the fiuctuation at Lon
don WAS a ret drop OF e. los. on spot
and futures standard metal. but Amer7-
can electrolytic after advancing to f99
TO-. closed at EOS 10s. the same as a
week ago. Under present conditions the
London market Is not much OF a factor.
hu, q, Is interesting to note that there
1. now a difference of nearly f20 be-
twAe, electrblytlc and standard copper
prices.
IN. exports Of copper in November. ac-
cord. Z to Custom House returns. which
are stiil thirty days late. were 1896
.ofs. OF which 1895 ton was shipped
10 France, 1904 tons to Italy. 1927 to
the United Kingdom and a.47s tom to
sweden. Small shipments were also
made TO Russia and Holland. Since
December | exports nav been 2,025
'uas. These shipments, however. were
really made in the preceding month.
Imports recorded since December l have
been a.o3O tons of copper. lis toni OF
matte and siNty-five tons OF ores.
The November Wig tin statistics re-
tcaled a very heavy supply OF metal
available for consumption. The visible
was increased over 5000 tons during
the month and the total supply to-day
. nearly 5000 tons larger than at the
corresponding time a year ago. Over
5000 tons is now afioat for United
States ports. Tin Is still coming by
way Of the Suez Canal, indicating that
the previous reports we're merely given
uu, FOR speculative purposes. The de-
Nyeries into both American and Euro
rean consumption fell of sharply. A.
a result of these developments h mar
k, here and abroad was subject to
violent fluctuations. but the net result
VAS a decline OF only about iac. a pound
On spot tin at New York. while at Lon
ion and the Straits tho net decline
was relatively less.
Last week spot TIN sold in New York
ID, high as 40c. and ~ low y $3.50.
the latter OF Friday. cut the close was
,ie4d.er at asia to 3s5sc. Future posi-
Sons have been offered more freely. but
less business has been reported. Since
december / 1873 tons has arrived at New
York and l,l75 tons is due today
rom the Straits by way OF Boston.
The total arrivals this month will be
very heavy.
spot straits tin at London. after SELL
= M 10 fl76. closed at fl72, which
$50, a net decline of only l0a. for the
N,.h. The standard market was quiet,
N'h fluctuations within "a M Of f3
y. -, resulting In a net decline OF only
i', On spot and 5s on futures.
Refined spelter IA little less thar
'"10ri!ized at the close of the week.
after a break OF 20. Il pound on spot
and nearby positions. The high prices
PREVIOUSLY recorded brought out large
offerings for domestic delivery. as the
rNl"rt business was temporarily checked
"' lack of vessel room. At the close
Of the week spot in New York was d!ffi-
al'' ~ sell over 1890, whereas sales
."i been made as high a. 1910. the
"'"k before. December va held
a l6i2c., January l 5lac., first quarter
y 1915 at liiac. The London market
hroh" tl@ on spot and flo on futures
Tor tho week. spot being held At f93
ana futures at ESQ at the close.
Lead was well sustained during most
y the week, with moderate demand for
domestic delivery. There was also some
Interest IN future export shipments. but
rew important sales were reported. At
he close Of the week spot and Decem-
'er lead was easier AT 5.20c. to Sic,
,hr outside being the quotation Of the
largest interests. Resale lots were
offered al $50 10 5.22hc. New York.