The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-03-02
'OUTLOOK FOR SPELTER
COMPARES WITH COPPER
FEAR or ovERPRoDucTIoN HAS
PROVED eouNDLEss-
CONSUMPTION.

An eastern exchange remarks thai
a shortage of zinc similar to thai
which exists in copper is impending il
the view of many we'll informed meta
factors.
II has surprised the close observers
of developments in the general metal
situation that spelter has not respond
ed to the strength displayed by cop
per. Statistically there is a striking
similarity in the position of copper
and spelter A relative production
parallel has been made for several
years. The sharp upturn in output of
copper in the latter part of 1914, bring
ing production to record height at the
end of 1915, was duplicated by spelter,
and in spite of this enlarged produc-
ton, the stocks of both spelter and
copper on hand at the beginning of
1916 were materially lower than at the
opening of 1915.
The reason for this is that brass,
into the manufacture of which the ma
jor portion of copper goes, consists
roughly of two parts of copper to one
of zinc. Brass smelters are estimated
to have taken nearly half the country's
output of spelter in 1915. Their cur
rent consumption of copper is report
ed in many cases to be several hundred
70. hoY in
dicating an enormously increased out
put of brass, and a proportionately
greater absorption of spelter.
Spelter Prices.
The comparative sluggishness Of the
spelter market that was in evidence
until quite recently may be accounted
for by the large purchases that were
made of distant deliveries in the lat
ter half of 1915. Spelter prices reced-
ed from the high levels prevailing dur
ing the early months of 1915, influ-
enced largely by the widespread be-
lief that the large increase in retorts
planned and under construction was
going to result in an overproduction.
The slackening demand led producers
to offer substantial concessions on the
contracts for deliveries running to the
end of the year. This enabled con-
sumers to cover their prospective re-
quirements to the close of the year
and in some cases through the first
quarter of 1916.
Overproduction that was expected
to follow the increase in smelter ca
pacity did not materialize as quickly
as anticipated. Blowing in the new
retorts, and in spite of an increase in
output of primary spelter from 100000
tons in 1914 to approximately 100000
tons in 1915, or about 40 per cent the
stocks at the end of 1915 were only
14,3OO tons compared with 23,500 tons
at the beginning of 1915.
Production and Consumption.
BY March most of the new retorts
should be producing and it is estimat-
ed that the output of spelter will be
at the rate Of 100000 tons a year. The
maximum production of the world for
any year prior to the war was LOO,
600 tons annually.
With the domestic consumption OF
copper by brass shelters constantly
expanding, the destination of big
percentage Of this increased speltel
output is easily determined Another
assurance against overproduction is
afforded by spelter exports, which pro-
vided an outlet in 1915 for 128,O00 tons
or rs per cent of our output, against
10000 tons in 1914.
This factor will remain constant as
long as the war lasts, at least, and in
all probability long after peace is de-
clared, because the foreign nations
that formerly relied on Germany ant
Belgium for their spelter must now
come to the United States.
Copper has proven a good barometer
with which to gauge spelter in the
past, and it is becoming apparent tina
the similar position of the two met
ais will be reflected in the market ac
ton of spelter.