New-York tribune., 1919-09-07
Improved Labor
Situation Helps
Metal Markets
Better Buying for Consump'
ton Develops in Copper
and Other NOn.FerrOus
Metals; Spectators Also
Active

Quick response to the improvement
| in the labor situation was evident IN
the non-fcrrous metal markets the last
week. Consumers we're more active
buyers. This was particularly true OF
tin and zinc, which are more directly
allied with the iron and steel industry
than copper, lead and some Of the other
metals. Galvanizers inquired for zinc
for September and October shipment.
and several thousand tons were sold at
prices ranging from 7.40c to SOC, East
st. Louis basis. Tin plate makers ana
solder manufacturers bought heavily OF
tin, especially of supplies due to reach
here before the end Of the year. Deal
ers and spectators continued active IN
the copper, lead and zinc markets, dom-
mating the zinc market and causing a
continuance of two separate and DIS
tinct markets in copper and lead.
"To the surprise Of big copper IN
terests," says THE Daily Iron lrade
and Metal Market Report" "a further
large amount of copper has been dis
posed of in the outside market. IL had
been thought that supplies Of this cop
per were comparatively small. but 1t de-
yelops that on Wednesday alone more
than 1900 tons Of copper were disposed
of at resale through brokers to con-
sumers. and on Friday over l,600 tons
additional. One of the largest brass
mills picked up over 1000 tons OF Sep
tember delivery copper at 22.2oc. Inc
leading producers stood firm at 23:ooc
for September and 24c for October.
They also have been taking some busi-
ness at these prices, indicating that
where consumers want large tonnagcs
they usually must buy direct.
Copper Exports to Germany
"Some further business has been
done with Germany, both through the
Conner Export Association and by out
side interests. 1t is understood pay
ment for at least some of these pur-
chases was made through funds de-
posited in countries which were neu-
tral during the war. Export business
in copper generally remains rather
quiet, due to the unfavorable foreign
exchange rates. The brass and copper
product market is unchanged, not
rolled sheet copper still being quoted
3350c, base. Base prices are being
we'll maintained excepting in the case
of brass rode, and the mills are oper-
atng as satisfactorily as tnelr labor
supply permits. An improvement IS
noted as regards deliveries on copper
wire, which now are obtalnable on
standard cages early in October.
brisk demand continues from makers
of labor saving devices and other lines
excepting the building trade.
THE demand for zinc this week has
In
inquiry coming from brass mills. The
inquiries usually call for September
and October shipment. Second hands
offered metal down 70 7ioc, East 81.
Louis basis, and producers me. this
price. doing business.
tine passing OF bill by the House
OF Representatives 70 increase the duty
on zinc orc r/eivod little attention in
the general market. Producers ex-
pressed the opinion that the bill. II
enacted would result eventually in the
smelling of Mexican and Canadian zine
ore in bond. to be sold for export.
Thus there would be created bonded
zinc market. just as we have bonded
lead market.
Japan Takes, Some Zinc
The unfayorabe foreign exchange
situation has prevented export busi- /
ness in zinc in Eurone in recent weeks,
but Japan bought occasional tornages
OF prime Western. The government
zinc stocks are not yet all disposed of.
it being estimated that upward of TO-
600 tons Of high grade zinc remain 70
be disposed Of. The producers of high
grade zinc are quoting from s.50c to
S.s7lsc New York, for early shipment,
with demand light.
aggregate sales Of tin involved an
extremely large tonnage. tin plate
makers. sold and white metal makers
and other consumers being buyers.
Straits tin for September. October, No /
vembcr and December shipment sold at
52l2l2c. Straits tin Tor August ship
ment. now aioat, was offered at 5225c /
70 52.50c, delivered The recent heavy
demand for 80 per cent has caused /
something of scarcity, and prices are
firm at around 55c. American electro !
lytic tin sold at 55.25c to 55.57 &c. Lit /
tie SPOT Straits tin was available. The /
uncertainty of the foreign exchange I
situation and the slowness of cable 4
communication have caused continued
great irregularity in the tin market.
prices by various sellers covering
wide range.
Lead Firm, But Quiet
The lead market has been firm, but !
rather quiet. Producers are quoting
six cents, New York. which remains
the asking price of the leading pro-
ducer Secondhand sellers offered odd .
lots at prices down to 5.s5c. New York,
but this was not a representative price.
On Thursday, 5.65c, East st. Louis basis,
was bid for lead, 5.70c to 5.75c asked.
The consumption of lead products con-
tinues heavy and trade interests are |
bullish. Two or three of the producers
are well sold up into October.
"The antimony market has declined
further, sales having been made of
spot metal at less than S.5Oe. duty
paid. The leading importers of Chinese
antimony are not meeting this price.