New-York tribune., 1919-06-08
More Activity
In Copper and
Other Metals
Brass Mills and Producers
of Electrical Equipment
Place Orders; the For.
eign Demand Broadens

Active buying of copper was resumed
last week and increasing evidences of
growing expansion of operations in
many lines appeared to have stimulated
the confidence of manufacturing con-
sumers of all the non-ferrous metals
to the point of buying.
large part of the recent increased
business in copper, lead and spelter
was against orders in hand, but also
there has been much metal purchased
against anticipated requirements.
"Following short lull in activity in
the metal markets." says THE Daily
Iron Trade and Metal Market Report"
active buying of copper was at ad-
vanclng prices last week. The rise be-
gan on Tuesday, when some producers
who had been quoting at the general
market of 16.50c delivered equal to
about 1850 to 16.371sc, New York. for
electralytic copper, advanced their QUO
tatlons to 1880 delivered. By Friday
l'c was the general quotation for spot
June and July delivery. while 17.25c
delivered was asked for August and
17.50c for September. Interest was
largely focused on July and August
deliveries. The brass rolling mills ap-
peared as really important BUYERS of
copper for the first time this year.
while wire drawers and manufacturers
of electrical equipment, who previously
had done the bulk of the buyink. again
were in the market
There were also further signs of
a broadening of foreign demand. Jana
nese buyers inquired for about $500 to
1000 tons of copper, which is in addi-
tlon to the approximately 5000 tons it
IS estimated they already have bought
me London market for copper and
other metals is watched closely, as
American producers have large stocks
OF metal which they expect will be re-
qulred to meet pent-up requirements of
western consumers after the peace
treaty is signed. The London market
IS regarded as a barometer Of the for
eign demand. However, the prices
quoted are so low that comparatively
little American metal can be sold in
England now, especially with the recent
decline in sterling exchange. 1t was
reported this week the English govern
ment is offering its stocks of copper
on the market at fSl los, equivaent to
about 1852 cents c. i. f. London, or
about 1880 cents f. a. s. New York.
compared with the American domestic
quotation of 17c.
"A committee of brass manufacture
ers has gone to Washington to confer
with the War Department concerning
the disposition of govern ment stocks of
scrap, including $1,000 600 pounds of
copper scrap and $4,000 600 pounds Of
new cartridge cases
"Ihe revival Of activity in the cop
per market by Thursday was reflected
IN the spelter market Business had
been done earlier = the week on the
basis Of G12isc East ST. Louis. but
on Thursday sales we've made at 6.l5c,
East st. Louis, for prompt shipment,
and 6.2Oc was asked for juno. with
premium of five points for each month
following. Japanese buyers took
some additional spelter. Il sale Of 200
tons being closed on the basis of 6.75c.
Seattle, equivalent to g.. East st.
Louis. This sale, however,, was not
representative of the general market.
bill to protect the country's zinc orr
industry was introduced into the
House Of Representatives at Washing-
ton, alsd now is being considered by
the WAYS and Means Committee. The
proposal is to levy a duty of &c
pound on the metallic contents of zinc
ore imports. The sheet zinc industry
is growing more active, with improved
domestic and foreign demand. The
base price of sheet zinc is being firmly
maintained at 10c, f mill, usual
extras and discounts"
Moderate Improvement has taken
place IN the lead market, and indepen-
dent producers last week generally
quoted 81 cents a pound New York
delivery Second hand dealers quoted
five to ten points lower Stocks of
lead arc large but consumption is
growing, according to reports Of the
manufacturers of plumbing supplies,
white lead, sheets, piping, sporting
ammunition etc