New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-06-01
Sentiment. More
Cheerful in the
Metal Markets
Reselling by Spectators to
Secure Profits in Evidence
This Week-ENport In
quiries More Numerous

SPECTATORS who bought copper, lead
and spelter at lower prices have been
reseling and taking their profits dur
ing the last week. Their operations
what lower, although in general the
tone Of the non-ferrous metal markets
has been firm.
considerable metal says The
Daily Iron Trade and Metal Market
Reporter remains in second hands
and these holders are watching the m
ternational situation closely. How
ever. general conditions have been
such as to encourage cheerful trade
sentiment. Producers have held firm
~ to the price levels reached on the
recent upward movement and they CON
tinue to ask premiums on metal wanted
Tor future shipment. They recently
have booked comfortable amount of
business anu llOW cN iNtttlN Ittl lUSN
can afford to let consumers digest their
recent purchases.
Foreign Inquiries Numerous
"lncreasing signs Of broadening
world market for metals are response
bic for large share of the present
cheerfulness. Individual export orders
have not been large. but there have
been numerous foreign inquiries,
which are regarded as indicating the
approach of more extensive foreign
buying. Swiss, Scandinavian and
Spanish consumers have been inquir-
ing for copper in this market Japan
has bought several thousand tons OF
the metal, although normally she is
not an importer. The French govern
ment this week lifted its en- barge on
imports of copper and American sell
lers already are figuring on some I'M
portant French business. England has
permitted imports OF copper by private
buyers for some time. but Italy still
prohibits such imports
The French government price for
copper is understood to be $50. where
as the English price for future cleo
trolytic copper is sS5. The American
price for olectrolytio copper is 1857 l2c
to l6.5oc, New York. The cost OF ship
ping copper to England amounts to
about &c a pound, including freight
and other charges; to France. l2c.
The English price Of e33 is equivalent
to about 11.l9c pound London, at
, current exchange rates or about 12c
pound below the price of copper in
this market. plus freight and charges
The Copper Export Association. which
embraces about 90 per cent of the cop
per producing capacity of the country
row is understood TO be competing in
tnc foreign markets. For a consider
able period after January /, this year,
the association maintained q nominal
export price OF 23c.
Sales of Spelter Larger
England. Italy and France have
been buying spelter in the United
States. Galvanizers, brass mills and
electrical equipment makers also
bought 'speter on the recent movement.
the tonnage sold during May being
much larger than in any previous
Western snalta, ,ancad eron, ea-
Fast St. Louis, on Monday to 6.2oc or
Thursday, which was the last day of
trading this week. owing to The holiday.
The sheet zinc ,nilis cnn+inro
It a low ratc h,t roro,+ 49,, 9a,s'
exnor, demard rho haro a,;.. ''-e
sheet zi,c i ,,rc,or'a.o. ,oa
mill - -
dead nroducors bootod ,,no,, hu.;
ross the las, fo,. ,.oo,,~ eao 49,.
la~oor rrod,,oo.. ~ '''e
for limo sb;,r,a,,t ,,re,',,as. .9-' up
following month ,.hich .sa,. L s'.t
enioved AZ an, +in,e rre,.;o,sI'. - l,G
wear Lead nroductio,, cont;n,,os a.
rate Of So to - ncr cent noalors Vow
active durino tho wcot +,,rn;,,. o..a,.
carload here and tharo A. n,;oo-
shade under tho General r,orlo. u,h;oh
vas UNCHANGED -. sosc Na,,' vl,.,. i,
livery. Sc Fasf & LONE a, rh,.re
dav dealers oForca 1oad ~ 4 ooo -