Mohave County miner., 1916-11-25
PRESENT HUGE DEMAND
 FOR COPPER ESTAB-
 LISHES RECORD PRICE

A French inquiry for 225,OOO,OOl
 pounds of copper for delivery in tn
 second half of next year ,the selling O spot electrolytic at new high recorc } price, a tremendous demand from do
 nestle consumers for first half copper
 a serious shortage of copper for thi: , delivery, a pressure on producers tC
 open their books for last half busi.
 ness, have been the developments ir
 the copper market since our last mar.
 ket report. Last week it was stated
 that there were "rumors that another
 tremendous foreign purchase is inn
 pending" The French inquiry was an
 nounced on Thursday. It was stated
 that domestic consumers are willing
 to place their second half requirements
 under contract" Definite acknowl-
 edgement of such inquiries has since
 been made by leading producers.
 Business in copper since our last re- port has been excited. Consumers who
 were in need of first quarter copper
 shopped around all of the leading pro-
 ducers without filling their wants.
 Dealers who are holding large blocks
 of metal available for nearby deliv-
 cry are selling sparingly waiting for
 higher prices. Copper has sold at
 92A cents for spot, 31 to 311a cents for first quarter delivery and 30 to BIZ cents for second quarter delivery. Predictions that the red metal will sell at 40 cents a pound before the end of the year are being heard. The extent of the copper requirements of domes- tic consumers for delivery in the first quarter that must still be purchased appears to have been greatly under estimated. One important wire draw CT is now seeking 6,OO0,OOO pounds a month for the first quarter. Several brass makers are negotiating for 100000 to 3,OOO,OOO pounds month for that delivery. There are even some million pound lots being sought for December delivery. The amount of copper inquired for in carload lots is also tremendous.
 With dealers controlling the entire situation over the first quarter the fact that premium market for copper has arrived cannot be disputed. The in- ability to increase production of cop per is primarily the cause of the tight situation now prevailing. Consumers who felt secure in the belief that out put would run above 00,oOO,OOO pounds month by the first of the new year have since come to a realization of the fact that consumption will be greatly in excess of the output. Pro- ducers warned these consumers of their peril, but they failed to heed the i Price considerations are no longer the determining factor as to a consumer will buy copper
 Melters who are protected over the first half are clamoring for coverage over the second half There has been a remarkable change of sentiment among copper consumers. The opinion is now more general that the future of copper does not depend wholly on the continuance of the war. With Europe buying copper a year ahead on orders that cannot be cancelled and willing to pay the prevailing high prices, domes- tic consumers have found that the fears of reaction, if the war should end, are baseless.
 Producers are today limiting even for the second half of next year, to regular customers. Buy CTS who have made practice of shop ping around, are finding that their penny saved is penny earned" pol icy is of no earthly advantage to them when the market turns from buyers to a producers market. It has come down to apportioning production. Out put cannot be increased sufficiently to take care of the greatly enlarged world demand. Facilities may be ere ated, but labor cannot and there is the rub. Plants cannot be run forever without repairs and when parts for repairs cannot be obtained plants are closed. Thus notwithstanding the de tires of producers to bring the output ID to 225,OOO,OOO pounds a month shere are factors that prevent them rom so doing.
 r-st-.