New-York tribune., 1919-07-27
Metal Prices Go
Higher as Export
Demand BrOadens
Sales of Copper at 2i Cents
a Pound-Germany Buy
ing Antimony-Zinc MAJ.
ket Quietcr

The great activity that has charac-
terized the non-ferrous metal markets
IN recent weeks was only slightly
diminished last week. while nrsces
continued to mount. In many respects
the furious trading Of the present
movement has resembled the markets
or 1915 and 1916. when the war de-
mand WAS reaching huge proportions.
According to The Daily Iron Trade
and Metal Market Report. the cu.-
rent market Is active because of
world scarcity OF metals of all kinds
and because Of the inability o. meta
production TO keep pace with demand
owing 20 the unsettled labor situation.
export inquiries says this trade
authority, continued feature OF the
non-ferrous metal markets. Japan
bought more than 1000 tons of copper.
bringing its estimated total purchases
of the red metal in recent months TO
more than 10000 tons. The expected
German demand for copper has not
yet materialized. but il is believed
TINS buying only awaits satisfactory
financial arrangements. However.
some large orders for antimony were
placed for German account. for ship
ment TO Rotterdam and Copenhagen.
Italy has been inquiring for ferro-
manganese. manganese ore and spie-
gelelsen. Japan and Canada inquired
for large tonnages of lead.
Spectators Take Profits
"The advance in copper prices was
less rapid, partly due to profit taking
by spectators during the middle If
the week The price OF spot electroly-
tic copper on July Is was % cents.
New York ubaraaS O,, Iulx -
risen to 2375 10 "a cents. De-
spite the activities of second hand
sellers. the market maintained its
strength, producers raising prices IN
the face of concessions by dealers who
were taking profits. Both brass mills
and wire drawers bought further
large tonnages of copper. The wire
mills are now we'll sold up ahead and
brass mills have about all the work
they can do in view of the current
labor supplies. Prices OF copper prod
ucts, including sheets, wire and tube.
were advanced l cent a pound further
this week, bringing the total advance
since July II to , cents a pound. Pro-
duction of copper in Montana. which
mas been handicapped by labor short
age, Is now also being affected by tn-
adequate water supplies American
production of copper Is estimated mt
about % per cent OF capacity and IN
the past three months sales have run
far ahead of production"
The lead market experienced a sharp
advance in prices. On July IS the lead
ing producer advanced its quotation
from $50 to 5.75 cents New York AID
on July "a announced another advance
of cents a ton to 6 cents. New York.
the highest price since January % The
lead price was sos cents a. the time OF
the armlstlce, but was rapidly scaled
down after Decembe last wear until
a low price OF cents was reached on
April 9. Its partial recovery Is due -
the fact that lead could not be profit
ably produced at the lower levels, and
production has been so curtailed that
consumption now exceeds output. p
fined lead stocks in the hands Of siuelt-
ers are reported low, being said not 10
exceed 10000 to 10000 tons The gov
ernmert stocks of lead have been laroa-
y lquidated, being absorbed by half a
dozen large consumers at the rate o.
$500 to 5000 tons month. A ltrea
export business in lead has been dons
TO South America and al apau Sos,e
lead has been sold 70 England la.llv.
despite the lowness Of quotations thets
IN contrast with our own. Canada has
been lnquiring for large tonnage Of
lead, on which business only Mexican
lead smelted In bond can be supplied,
owing TO the present duty on lead i'm
ports into Canada. The price % bonded
lead now is about 4 75 to cents, Eew
York, 5.l5 to $40 cents, I. n. s. Seattle
Easier Prices for Zinc
The market in zinc has been sonc-
what quieEer. Some business vas dorc
at & cents, East s.. Louis. fer prcr.rs
On Friday prices easca -
a few points. The government. stoela
Of the metal have been largely r.-
duced since the last inventory, NV
20 about $4,000 tons To
War Department has announced
viii market this surplus itself ,nsteaf
Of with the assistance e committee
Of the producers as had been planned
The fluctuations in sterling ez-
change have been ar important fa>tor
IN the tin market, prices varying a.
.ording to the amount % risk or ex-
change buyers Or sellers were wi...as
70 assume. Anott er element % inter
-aiu-v il Tie narze. nss heer "a
49, s-t-etior, VII 1,lt
cleaners s1-ire - ta prcr--r o.. 4
consumer nay cay --rsi'- -. e. r.
from ne lGst Indies e.
seller W.. ful.- his contrect by L.
very Oh DOGrA ne = NEs ~
ne steamer may be hsid - .aac ai.e-
y. so that the consumer may get s.
deferred delivery after AL. TIE In
trade was surprised b. al nrnoarce-
ment Thursday from TIE Wa- Treds
Board that its ruling Of July Z. whieh
shipments @ IN from osner
than originating countries co-.d -
received or and after Segtemheg !.
had been revised.
The ant.mony market has tunnel
about cent a pound. partly dvs t,
the high prices which had bean aE..,
by Chsaeze producers. but lerge'c b..
cause of buying fer German hccos.r-.
Az east 500 IONS have been sod Scr
shipment from New York - Rot.e--
dam and Copenhagen.