The sun., 1916-01-31
COPPER SELLS AT 26,
BUT THEN REACTS
Manufacturers Not Working
on War Orders Slower in
Buying.

The strength OF the commercial posi-.
ton OF copper was indicated last week BY
another fractional advance In the price
OF electrolytic In the domestic market
The English market responded tempo
rarily to the rise here. For few days
there was considerable activity In moder-
ate tonnages. electrolytic selling from 20
to 25 \, cents for delivery during March,
April ard May. Small lots for nearby
shipment brought as high as &c cents and
in some instances slightly higher. Sec
ond hands advanced their prices from
24l, to % cents. but toward the close or
the week prices reacted with freer oner-
irgs for nearby shipments by second
hands at 24a. cents. while producing In
terests were still holding at 251a cents
for April and May shipment. Large con-
sumers seem we'll supplied
Later the English market was much
more unsettled. Even agents Of Amer
lean producers at 1.undon were competing
for business at prices covering range
of g.. while the British Government limit
rcma ned fi00 for American copper. At
the close of the week after electrolytic
had advanced e. on spot there was less
irreglarity but very little business The
result OF fluctuations In standard copper
AT London was an advance OF IL bs. on
spot and II les. on futures
The production of refined copper dur
ing January Is estimated at $4,000 tons.
equivalent to 167.000.000 pounds. De-
lveries into domestic consumption were
checked by the embargo on freight ship
ments into New England Largely for
that reason, il Is indicated, there was an
accumulation OF probably 10000. 900 to
2O.OOo.OOU pounds at refneries. The
January exports are expected TO show
about j0.O00.000 pounds when returns
are complete.
Consuming interests continue to oper-
ate AZ closely AZ possible to full capacity.
with specifications in hand which insure
great plant activity for several months.
The demand for finished products COM
tinucd more or less active. but domestic
consumers not engaged In making war
munitions are inclined to be slower In
making purchases
The exports reported Prom United
states ports during the week ended Jan
uary - were tOU9 tons. making the
total foreign shipments 10000 tons stree
January l shipments during TIE next
four DAYS are expected to hiring the total
up To- $4,000 tons. Imports since jan
uary ! AZ Atlantic ports o'.y have been
7.e20 tons Of copper. 1896 OF matte and
y $50 tons OF ore. indicating total i'm
- rt- IN January uf about 5000 tons
IN 1915 the total imports, December es.l-
mated. were practically $4,000 tom.
Tin was more active and higher for
several days, but subsequently react.d
sharply The heavy arrivals during the
month and the large tonnage atlost for
United states ports were responsible for
the weaker feeling Freer offerings
Ncro made for both spot and future
delivery The result of the fluctuations
IT. tho London market was a not decline
OF fl on spot Straits tin. "A decline Of
los. on spot standard and IS. on future
standard, Tn" singapore market. afteT
advancing sharply rereded and closed at
a he, decline of ljs. for N. week
Refined spe.tcr was active. stron1 ard
higher with liberal sales for several
DAYS Late IN the week, with less de-
,nand and fre" offoriugs. prices dropped
heavily and the market closed weak at
l>i.c FOR spot, lsi,c, 'or February.
i7i.c. for March and '5i.c. for second
Quarter I'll" London market advanced
II net an SPOT and {, on futures.
Lead WAS in f,ir demand and stronger
most of the We" Higher prices were
expected SA'"s ~ hftv ton lots ut spot
49,, u4d, ut s1on : 20c. 4: 90. l. N-W
Yort or ln points over the prlc" of the
I.,t.'s producers Al last - Louis
stlr- w.r. made t' ..?,r. to g.. FOR early
snlpm,at bat higher prices wc;e asked
for futurc delivery The London market
advanced - ID net on both spot and
futures. spo, closing AT t32 IS. sd.