New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-07-20
Expanding Demand
For Copper Sends
Price to q Cents
Eager Bidding by Consum-
ers and Dealers Causes
Excitement i'm Market:
Stocks of Metal Reduced


With trading in the American market
more exciting than ct any time aimee
this country entered the war, prices Of
non-ferrous metals last week advanced
substantially. They also were higher
in England. The copper market was
the centre Of attention, the price adj
vancing nearly 8 cents, to IS cents a
pound.
Both consumers and Dealers" "The
DAILY Iron Trade and Metal Market Re-
port" states, were actively inquiring
for copper in this market, while there
was a considerable speculation in de-
ferred positiins, which the large pro-
diucers were not selling. Consumers
desired more copper than producers
were willing to book and for deliveries
through to the end of the wear. It an
peared as though July business would
exceed May and June, in each of which
months more than 10000, 900 pounds
Of copper were sold. More copper has
been going into consumption than has
been produced and the stocks of re-
fined metal are gradually being re-
duced.
by September 1t is expected the
wants Of Germany and other foreign
countries will begin to be felt and that
the present stocks, while large, will
not be oversufficient. Germany has not
inquiring directly for refined copper,
but it Is believed that the large ship
ments of semi-man ufacturcd copper
products, such as rods, that have been
gong TO European neutrals are des-
tined for Germany. The labor situa-
ton continues serious in Montana, and
NC
IN copper prices if 81 strike is not
averted there. The Anaconda Copper
Mining Company has added 81 day to
the wage scale of it's men, the wage be-
ing based on 22-cent copper. Previous
ly the scale was based on 18-cent cop
per and had been effective since tho
market dropped from % cents to 1850
cents, six months ago. Prices Of brass
and copper rolled products were marked
up cents a pound this week, in keep
ing with the higher cost of copper.
The consumption of copper by the mills
has been affected by labor troubles at
Rome and Hastings, N. Y, also in New
England, but the mills are covering
copper and zince requirements never
theless. There were a number of spec
ulative sales of copper in this market
recently, tonnages for October-Novem-
Der delivery being bought on a 3cent
pound profit shortly afterward.
Price OF Lead Up
The American Smelling and Refining
Company advanced its lead price on
Monday to $500 New York, 5.25c East
ST. Louis, but apparently was not
free seller at these levels, as indepen-
dent producers and outside sellers asked
and obtained substantial premiums
over this price. Business was done
Thursday consisting Of lead for July
shipment from the West at 5.75c, New
York. Accordingly or Friday the lead
ing interest advanced its price to 5.75c,
makers are taking large quantities of,
lead, while the lead sheet and pipe
business is fair. Spain and South
America have been buyers, but the Eng
ish market continues far below parity
with our own. Production of lead has
declined, and now is less than consump-
ton.
steps Of the copper market, advancing
nearly 1c pound from the close Fri
day to Thursday. Japan has been a
large buyer of zinc, owing to the nearly
complete shutdown Of her own zinc in
dustry. England also has been buying
zinc, her market continuing nearly &c
d pound above ours. The price OF prime
Western zinc for July shipment from
the West was &c East ST. Louis basis
on July IL. By July Is the sales Of
this position were made at 7.95c, with
an upward tendency continuing. The
price of 60 per cent zinc ore reached
and passed $50 q ton, SO that at last
it has gone to a level where the bust
ness is becoming somewhat profitable.
AS in copper, the labor situation at
zinc mines and smelters is serious and
handicaps production.
The tin market IN London rose near
ly So from Friday to Wednesday, while
the Singapore price, c i f London, ad-
vanccd IS. This movement had the eff
feet of strengthening the American
market, prices here for Straits for July
shipment from Singapore rising about
l2c a pound, to SIC, on Thursday. The
tin situation continues puzzling, due to
the transition Of the market from gov
eminent control to its normal free
condition. At present tin can be traded
in freely at any price the seller can
obtain. But restrictions continue in
effect on imports of pig tin. August
tin can be entered from countries Of
origin, and September L from any coun-
try. Therefore, spot Straits tin is
quoted zoe here; July shipment Straits,
due to arrive here early September,
SIC; Lamb & Flagg, originating in Eng
land, for August arrival, &c; domestic
electrolytic, zoe; domestic 90 per cent,
6ec. Within the next two or three
months these prices must pass into
alignment with each other and with
the world market.
Japan Buying Aluminium
Japan has been large buyer of alumni
mum; also has been inQuiring for about
100000 boxes Of tinplatc. scandinavian
countries have been buying inrot cop
per. The Copper Export Assoc ation,
the combination of copper producers
formed for export cooperation under
the Webb law, has not yet opened a
German Office, but may do so shortly
inasmuch as trade bars with that coun-
try now are down.
The anthony market reflected some
Of the strength of the other metals
Private cables from Shanghai reported
quotations for July-August shipment
from the Far East Of $500, I New
York, in bond. The market for spot
anthony in New York rose to 8.75c, C