New-York tribune., 1919-10-05
Copper Consumers
Still Hold Aloof
Owing to Strike
Producers Do Not Change
Views Relative to Prices;
Export Business Stopped
by Disparity in Exchange
Rates

Sentiment in the non-ferrous metal
markets has responded, according to
The Daily Iron Trade and Metal Mar
ket Report" to favorable news from
steel strike centres, but consumers are
not inclined to place orders so long as
the end of the labor struggle is not
definitely in sight. The shutdown Of
rall transportation in Great Britain
added to the uncertainties Of the situa-
tlon, its FIRST effect being noticeable
weakness in the London market as
cabled daily, although prices abroad
recovered substantially toward the end
Of the week. The present relative posi-
tion of the London and American mar
kets, however, makes export selling
from this side out of the question at
current rates of exchange. 1t is re-
ported that some American copper has
been sold in England for reshipment to
America, the exchange situation hav-
ing made such transaction profitable.
Spectators More Active
The copper market showed no devel-
opments from the producers viewpoint.
They continued to quote 23 SOC for cleo
trolytic for early delivery. Odd lots Of
copper were again offered in the so
called outside market at sharp conces-
sions from the producers quotations.
There was an increase of trading in
paper copper" by spectators, who
bought and sold first quarter delivery
copper at 21.75c to 22c.
Brass mills booked comparatively
little new business, but were busy on
orders booked in May, June and July
for delivery the remainder Of the year.
Present base prices have been un-
changed for over two months. Govern
ment offerings Of brass rods and seam
less tubing have forced the mills to
meet concessions, in same cases Of 2
to DC pound on comparatively small
quantities.
Zinc Market Quiet
In the absence of buying by galvan-
izers the zinc market remained ex-
tremely quiet. Leading producers state
that production is decreasing steadily
and they look for rapid recovery of the
ment of the steel strike. The Ameri-
can Zinc Institute is planning to en-
courage the use of zinc roofing, consid-
cred the only undevelopcd outlet Of
this metal. The institutes Representa-
tive, appointed with the approval Of
the active regional director of rail
roads, is reported to be meeting with
success in his efforts to traghten out
the car shortage in the Joplin field.
Inc lead market continued strong
throughout the week despite limited
demand. Strikes in the Idaho district
are said to have diminished output Of
concentrates from that region by at
least two-thirds, and the troubles at
the Federal Ullinois) refinery have Sc
riously affected production.
Tin Prices Erratic
The tin market was irregular during
the week owing to the sensational
movements in sterling exchange and
the uncertainties caused by the British
railroad strikes. Prices quoted by pro
ducers varied almost cent a pound
for the same grade Of tin for the same
deliveries, while inquiry was so light
that it was almost impossible to estab-
llsh a market.
The antimony market was unchanged.
Considerable spot metal continued to
appear in the market at around $50
cents, duty paid New York, but it was
impossible to buy futures ct anything
like this price, &c to 925c, c. i. f., New
York, duty paid, being the minimum
quoted importers by their CORE
spondents in the Far East.