The Parker post., 1917-03-10
HIGH PRICES
FOR COPPER
AUTHORITIES ON PRESENT COP
PER SITUATION ARE UNIT IN
OPINION THAT RED METAL
WILL 60 HIGHER.

NEW YORK, March 7.-The cop
per famine Is further aggravated by
the fact that spot metal is practical
ly unobtainable at any price
Prompt and March electrolytic was
quoted at from Sc to sc 1-2 cents
per pound at the close of last week,
with April from 35 to SO cents, sec
ond quarter "a to 35 cents, third
quarter 81 to 80 cents and fourth
quarter metal at from 80 to 81 1-2
cents per pound.
There is no denying the scarcity
of unsold copper for early deliveries.
and, while big stock are being car
ried by some of the larger consum-
ers, they are not tempted to sell even
at the heavy premiums available for
early delivery for fear of running
short if the present freight cOnges-
tion should continue through March.
Inability of some consumers to re-
ceive shipments from the refinerieS
compelled them to enter the market
during the week for spot lots, and
onsuch business dealers who were in
position to dispose of spot metal sent
the prices upto 81 IA cents a pound,
which level, according to reliable re
ports figured in several transactions
Probably the greatest factor in
the present situation Is the report
which has cropped out on several
occasions that the Allies are consid-
ering the opening of negotiations for
copper over the second half of the
year Should the Allies place their
orders for the second half year dur
| ing the present month, it will be re-
garded as the signal for an active
| buying movement that will result
| in most of the domestic consumers
covering their requirements over the
| last half also. While some consum-
ers are still uncertain as to the fu-
ture, the dropping of peace negotia-
| tions has removed one of the fears
| that the copper market cannot be
sustained.
In connection with the increased
destruction of shipping by German
submarines, it is stated that several
large shipments of copper have re-
Gently met such fate and that the
foreign governments will have to
call on American producers to make
up the deficiency. Copper is so ne
cessary to the Allies war operations
that copper and food supplies will
take precedence over all other
things, and no matter how acute the
situation becomes, means will have
to be found to continue a steady sup
ply of the red metal from the United
States AS producers sell their cop
per on a f. o. b. basis, they do not
suffer monetary loss by elimination of
the metal by submarines.
Furthermore, the unprecedented
home consumption of copper and the
urgent export demand have given
output a tremendous impetus. In
dustrial requirements have expand
ed to such phenomenal extent that
increased production. is absolutely
necessary if demand is to be met.
Conditions both here and abroad
warrant the expectation of enormous
consumption for years to come.
International complications claim
foremost attention at the present
time, but in any event there is every
reason to expect great activity in
| copper throughout the second half
of the year, whether the United
States actually enters the war, OF
which there seems to be little doubt,
| or not. The only question is the
limit to be reached. Leading au-
thorities in the present copper stu
alton are unanimous in the opinion
that still higher prices are likely to
rule before the European war ends