The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-30
OUTPUT OF COPPER
CLOSER TO DEMAND
Production Gradually Overtak.
ing Record Breaking Con-
sumption.
GREAT d PLACED

The one great feature Of the copper in
dustry that stands out prominently At
the close of April Is the enormous guam
tity of metal under contract for various
deliveries over the current year. Ac-
cording to competent authorities the
copper producing companies have eoid
an equivalent of nine months capacity
OF the shelters and refineries, which
means about 1900, 000. 900 pounds. and
the year Ii only four months old. Some
Of these sales. however. were made dur
ing the last few months OF 1915. This
does not mean that nd copper is avail
able for shipment before August or Sep
TENDER. as some OF the sales now on
the books do not call for delivery until
the fourth quarter Of the year. In fact
II is estimated that stocks Of 10000, 900
pounds are being carried by the large
companies. About 5000. 900 pounds Of
this was accumulated during April.
Although much Of the copper In stock
may be regarded AS sold 1t cannot be
shipped within the next sixty days and
consequently is available for resale at
the high premiums now prevailing. as 1t
can be replaced.
Production is steadily increasing, out
put being stimulated by the enormous
profits to be obtained. The output In
April IL estimated to have been between
$50, 0oo, 600 and 1870. 900 .000 pounds. There
H. reason to believe tina. by July produc-
ton will reach 200. 0oo. 900 pounds. On
the other hand, while consumption is
still record breaking. II IL being gradu-
ally overtaken by production. This IL
true OF highly finished products as well
AZ of electrolytic and other refined
metal.
It is estimated that deliveries into
! ta,,aSsl. an,.,,-ssn, To- A,rty x,,tV -rz,.a
to be at least 10000. 900 pounds and
exports are likely to be 100000 o
pounds. Including shipments from South-
crn aud Pacific az well as from Atlantic
ports. Thus the Increase In production
during the month has been in exceso OF
consumers requirements. In March for
eign exports were nearly 100000 10
pounds, - that there was a decrease
rather Than an increase in producers
stocks during that month.
The volume OF business last week,
while of fair proportions, was smaller
'han Tor many previous weeks. IN es
were made Marty e. lclated domestic
buyers who had no' fully covered their
requirements for June, July and Au-
gust. 1t \ estimated that sales agerc-
gated 10. 900. 900 TO 1900, 900 pounCs. AT
prices ranging from 29c. for August Up
TO Bic. for immediate shipment. bu.
there was much irregulari,y due to
offerings OF resale lots 10y dealers and
even by consumers. Prices current.
however, varied slightly from those dur
ing the preceding week. but the net
result of the fluctuations for the month
vas an advance Of Be-. per pound on
nearby positions and about ic. per pound
on deliveries to be made during the
fourth quarter OF the year.
The London market for American cleo
I tTglttlc reflected thu strength I'm this
country by All advance OF 10 los. spot
being held ut Gas los. at the close of
the week The advance for the month
was {, los. The standard market was
quiet but tiriner at a net advance OF
Il for the week and a rise of
III oI spot and tl3 on futures during
the month.
The most important development in
Tin last week Was an advance OF II. per
GENT. IN war risk covering shipments OF
metal from the East Indies to the United
states. Tho charge Is now } per cent,
which. Of course. must be paid by the
consumer in this country. This accounts
for the sharp advance Ia prices of July
August shipments from the straits In the
last two days. II X fair to note, how
ever. that the adv 81 in war risks COW
ers 'lc shiprncu, Il al other metals from
the United states to Europe.
There was very little demand for sew
eral day. Tor spot lin. which Was avail
80 - =" '' "o,h at 80 'tn'S "nu
"u'r "t"'p'" l" ''.' CENTS "u' ~ .he
u.s. u 'I' "''N. l "e'hf cNiu'h' 'hh'
very lt'It TN N'ui" De "Naii'plt 10 Apply
on ApFI contracts 'he SPOT price at
Nih'e' S'arp'% L. 81 ana even 10 81
ttAts per p"uhd Ih.s NH be only tenn
potdiN' as ti'' HlaFk.t VIII soon De bet
ter supplied from East India steamers
now "A, dock Interest was mainly CEN
'Ied In far OF ''l"l" contracts. Amcrl-
can consumers aud dealers bought quite
freely or June July and August ship
ments from the straits. at prices rang
ing from i3". To- 90, cents per pound
q. l. f NJ" forh The difficulty Of ~
curing permits from London increased
transactions in IA" primary markets,
The result was Il premium of f3 ON sales
at Sine over IA" English market.
\ stronger tone prevailed AT London
hut tn. result "f the weeks iiuctua-