New-York tribune., 1919-08-17
Ending of Strikes
Helps to Improve
Metal Markets
Stocks of Copper and Zinc
i'm Hands of Spectators
Are Well Digcsted; Prices
Show Rebound


impaired a better tone this week to
the non-ferrous metal markets. The
market was further helped by the
gradual disappearance of offerings
which had been pressed for sale by
dealers and spectators who wanted
to take profits on stocks of copper
and other metals accumulated on the
previous rising market. In some in
stances the dealers bought futures
against sales of nearby deliveries. The
big producers refused to be stampede d
into lowering their quotations.
Bargain Hunters in Market.
Bargain hunters among consumers,
says the Daily Iron Trade and Metal
Market report were able during. the
past week to pick up electrolytic con-
per rs low as 21.25c for spot delivery,
compared with the leading producers
quotation of 23.50c; lake copper at
2l.50c, compared with the producers
quotation of 24c, prime western zinc
at l2oc, st. Louis, as against 7.50c and
higher quoted by smelters; lead at
5.50c, New York, as against the leading
producers quotation of &c, New York.
But the volume Of metal in second hands
was limited to a comparatively few
thousand tons and could only last
temporarily. Eventually it was ap-
parent the producers again would
dominate the market and indica-
tions by Wednesday were that the
hold of the second hands on tho
situation was rapidly slipping. By
Thursday the supply of metal in the
outside market had become apparently
small and prices rose generally By
Friday this rise was accelerated. Elec-
trolytlc copper rose above 22.5Oc for
spot August deliveries in the outside
market, while fourth quarter sold at
23.25c and higher. Zinc went to 7.75c,
East st. Louis, for prompt shipment,
Whllc lead was scarce at 5.90c New
York, for prompt shipment from the
west. The advances in New York was
paralleled by increases in London The
reason for the advances abroad Law in
the Improvement in this market. Great
Britain, in fact all Europe, is anxious
oy Watching this country and the fuc-
tuatons IN sentiment here are Uuicklv
reflected abroad
"Onc factor in the copper market
has been the settlement Of the strike
OF 1000 laborers in Rome, N. Y. after
Two months shutdown Of the Rome
brass & Copper Company and other
important works. About 10 per cent
oil the country's manufacturing con-
sumption of copper is said to be CEN
tered in Rome.
Zinc Stocks Well Placed
The settlement Of the Rome strike,
the hastings strike and the recent
resumption Of New England mills have
increased consumption of zinc as we'll
as copper and consequently there were
some noteworthy inquiries for this
metal from brass mills this week. The
strike OF railroad shipment resulting
IN elnbargoes on railroads leading out
OF Missouri, Oklahoma and Kansas
Drought about reduction in the price
OF ore, but strengthened the resolution
OF smelters not to meet the slab zinc
prices quoted by dealers. The in
TINS market sentimentally, somewhat,
but there evidently is no prospect
OF carly exports of zinc from this coun-
Try to Europe, inasmuch as Germany
IS selling zinc in England at prices
lower than this country can do.
lhe government zinc stocks, which
were such milestone on the zinc
market earlier in the year have ceased
to be much of a cause for worry. It
deVeloped that of about 26,000 tons still
hcId by the government, 10000 tons
arc in the hands of brass mills. about
5000 tons in the hands of smelters
and 1000 or LOO tons scattered about.
ohly part of this latter is expected
to, reach the general market. A bear
lsh factor in the market was the gov
ernment offering Of 1872 900 pounds of
brass, but this was not taken at its
iace value, as many consumers hesitat-
ing 10 take government material ow-
ing to the difficulty in obtaining adj
=, .
up to the standard. High grade zinc
prices were maintained at nine cents
New York ''''
Tin Price Weaken
Quotations for tin futures swung
upward here, following a sharn rise
IN London. The market for spot Tin
however, declined abruptly, getting
INTO line with the world price. due to
tne competition and coming competi-
ton OF fresh tin Imports Spot high
grade TN, which held at 72.50c during
government control, and at 69c to zoe
iof many weeks after that control
ended, dropped sharply to 55.50c. New
, ork. spot 80 per cent tin sold as
low as 54c whereas two weeks ago il
was selling at &c pound. Both
dealers and consumers were heavv
buyers of tin this week, particularly
Of Straits for future shipment from
Singapore. The quotation Friday on
Straits for July shipment from Sjnea.
pore was 54.25c, this tin is due to
arrive here in October August shin
ment, 54c; September shipment, 53.50c:
and fourth quarter shipment 53c.
The lead market picked up after =
prolonged period of inactivity and
price shading by second hands The
leading producer stood firm at &C.
New York, for prompt shipment from
the west, but second hands sold snot
lead at as low as 5.45c, New York In
other words, dealers cut the leadina
producers price by $40 a ton. In,
dependent producers did not meet the
outside price, but they did some cut
ting of the leading interests ouota- es
ton. BY Thursday, however. consun,-
ers mad become sufficiently attracted
by the lower prices that a good ;non;rv nn;ru
came into the market On Friday
prices below $500, New York @y fay
prompt shipment, had disappeared
Spot antimony remained nnat ~
9c' duty paid. New York. while fnture
shipment from the Far East was o..
bond" oiA' IN