New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-09-14
Strike Threat
Hits NOn-Ferrous
Metal Markets
Dulness Prevails in Copper
and Zinc, With Latter
Suffering Decline of 10
Points During the Week

steel labor situation had been passed
and that some settlement would be eff
iected in short time has been dis
PEELED by the decision of the labor
union leaders to call strike of the
steel workers, on September %. As re-
suit of this decision uncertainty ruled
the nonferrous metal markets last
week
In this connection the possibility of
the strike confiagration spreading Was
not overlooked by the more pessimis-
tic observers, while the more hopeful
we're of the view that the strike threat
was a bluff and that the Showdown"
would be definite setback TO organ
lied labor. Pending further develop
ments market activity subsidized. Prices
were we'll maintained throughout the
week, with the exception of zinc,
which eased off for several days, al
though some market operators showed
signs Of bearish intentions.
Copper Market Dull
"The copper market has been dull"
says "The Daily Iron Trade and Metal
Market Review" $50 far as the large
producers are concerned. The outside
market was also quieter last week than
for some time, smaller quantities Of
metal being offered at prices ranging
from 2214 to 22ia cents 4 pound 1t
developed that between 5000 and TO-
900 tons of resale electrolytic copper
were accumulated by brass mills dur
ing the previous week. Some of this
copper had been sold some months ago
for export to Japan. but instead was
resold in this market. The export
situation in copper remains quiet.
Five hundred to six hundred tons of
electroytic were sold for shipment to
France and Scandinavia. No further
German business was reported. Ac-
cording to Washington reports Ger
many will require $4,000 tons of cleo
trolytic copper in the next six months:
this is considerably below trade es-
Inmates. Producers continue to ask
23la cents for September and "a cents
& POUND for October copper"
The market for brass and copper
products showed no change. base
prices remaining at the same level
as IN the previous seven weeks. This
industry, however, has expe rienced d
material let-ur in demand, due to the
countrywide labor troubles. Con
sumers are uncertain buyers when
they do not know whether they will
be able to fabricate the material they
order or whether their customers will
be able to take their products. The
brasJ mills have already been through
a period of labor adjustment which
has been settled far as their own
plants are concerned, but they still
feel the general labor situation. The
mills are operating fairly salts
factorily in view Of the shortage and
are comfortably booked uD. being able
to promise only eight to twelve
weeks delivery in most lines. Large
amounts Of American and French
government rods on the market arc
causing competition among mills for
rod business.
Zinc Prices Drop
The zinc market dropped about ten
points during the week, with dealers
dominating. "possib ity of steel
strike" adds "The Daily Metal Market
Report "of course did not stimulate
buying by galvanizers, several OF
whom had been in the market for
prime Western for September October
shipment from the West. The zinc
market also is feeling the repre- ssion
of export selling, due to the adverse
rate Of sterling exchange. The Ameri-
can market at 1925 cents q pound,
East s.. Louis. has declined to a point
where the prospects for early business
to England are improved. A little
improvement in the London market,
few points more in the American mar
kct, would open the way for resump-
ton tf selling TO the United Kingdom.
High grade zinc prices are UNI
changed at around $50 cents to
S.87l2 cents. with purchasers doing
little business, pending the disposi-
ton of the remaining government
stocks"
TIL lead market was the one mar
kct which definitely stifcned in the
last week. Outside sellers appeared
about cleaned out Of the supplies
which they had been Offering at price
concessions for some weeks and pig
lead for prompt shipment from the
West was sold during the week at 6
cents a pound, New York.
Prices in the tin market experienced
an upward movement at London and
Singapore, with only minor setbacks.
The market continues extremely diff
ticult to gauge, due both to the
vagaries of foreign exchange and the
fact that there is keen competition
among importers here. The usual
asking price for Straits tin for August
and September shipment from Singa-
pore. ranged from 1926 to $3.50 cents
+. 0. b. New York during the last
week, while shipments beyond Septem-
Der commanded little discount, I'M
portcrs quoting SO cents, New York.
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