The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-07-18
ZINC PRICES STRONG
AND OUTLOOK GOOD
Demand for Lead Is
Greater Than
Supply.
PROTEST FREIGHT RATE
Government Buys Zinc--Both
Metals Occupy Favora-
bic Position.
PROTEST FREIGHT RATE

"NHE SITUATION in zinc seems
to be very much improved dur
ing the past few weeks and the
outlook is regarded as very fav-
orable. The advance in price is prob
ably due to combination of causes,
including a curtaiment Of production
following the low price level of a few
months ago, the labor shortage and to
the increased demand from the gov
ernment tor zinc in the manufacture
OF munitions of war. Under date of
July 3 the New York correspondent
of the Mining and Scientific Press, of
San Francisco has this comment on
the zinc market:
Government Buys.
"The market has continued to ad-
vance during the last week until yes
terday prime western had sold and
was quoted at S.65c, st. Louis, or S.S5c
per pound. New York, for July or early
delivery. AS high as S.62Rc, st. Louis,
or SS7Rc, New York was noted. with
a premium of at least 1-Sc per lib.
asked for August September delivery.
One cause of stronger market has
been large buying in the last 10 days
of prime western and grade c by the
government. This is estimated to have
amounted in all to at least 10000 tons.
The navy department has also bought
1000 tons of grade b and 500 tons of
grade c which are reported to have
gone at 9.75 and S36c per lb. respec-
lively. The sale price of the prime
western, 5000 tons of which went to
the Ordnance department of the army,
is not publicly known. At present the
demand has died down, though sale
of 1000 tons of prime western is noted
as of yesterday. 1t is believed that the
crest of the upward movement has
been reached for the present, and that
an easier market is likely for time
at least, due to the fact that some
producers who did not sell to the gov
ernment are probably ready now to
sell to others. In fact. one quotation
yesterday appeared for S50c. st. Louis
or S7Oc, New York, for July delivery.
There has been some inquiry from
galvanizers.
Sheet zinc is officially fixed at 15c
per No. base with plate zinc at 14c
per lb. Grade zinc has also a maxi
mum price of 12c per pound.
Lead.
According to this same correspon-
dent the lead producers have fore
stalled action by the government in
fixing maximum price for the metal
This explains the advance in the price
to 1874 cents a few weeks ago, and
subsequent advances are accounted for
in the shortage of supplies and the in
crease in freight rates. The corre
spondent says:
"A concerted and determined effort
on the part of lead producers to pre-
vent the market reaching premium
prices has resulted in mutual agree
ment to fix the price at 775c per lb,
ST Louis. or 7.90c, New York. The
American Smelling 4 Refining Co.
took this position early last week and
it has become general. The object Is
clear-to avoid a maximum price by
the government Not very much is be-
ing offered, but such as appears is
generally going at 7.90c. New York.
There Is evidently a scarcity, at least
supplies are no more than equal to
the demand. The re-adjustment OF
the New York price to 7.9Oc as COM
pared with 7S2hc a week ago, is due
to the advance in freight rates. There
may be further changes from this same
cause"
Lead and New Freight Rate.
The market report of the Engineer
ing and Mining Journal on July mad
this comment on the price of lead and
the effect of the new freight rates,
which will be the subject Of protest
at any early hearing:
"The price of all producers remained
unchanged at 1900 New York. and
775c, st. Louis. Some small adjust
ments are to be expected in order to
compensate for the changes in freight
rates. The schedules issued for June
25 when the new rates became effec-
tive, were so complicated that not even
the traffic managers could solve them
at once. 1t has turned out this week
that the advance in rate from st.
Louis to New York will be 35c per
100 h., instead of the 24hc expected,
while the smelling in transit differen-
tial will be &c instead Of 17hc. which