New-York tribune., 1919-10-26
Lower Price Puts
A Little More
Life Into Copper

Leading copper producers and SELL
ing agencies returned last week to
active competition for business. &C.
cordlng to the DAILY Iron Trade and
Metal Market Report" reducing their
quotations to around % cents IA pound
and selling some metal at that price.
For months the large interests had
adhered to quotation of 231s cents
New York, despite an absence Of buy-
ing A large amount of copper had
accumulated IN the hands of dealers
and others who took advantage of the
situation to resell at a profit, doing
this period. Some consumers accunu-
the bulk Of the copper business during
lated supplies at bargain prices
Protect Large Customers
Al the same time the large sellers
were protecting those customers who
contracted for their August and Sep
tember copper at $3.50 cents during
July. These customers, however, IN
Guiding both brass mills and wire
drawers, did not buy broadly for Octo-
Der, November and December. This
was partly due to the large stocks OF
scrap they have on hand, some Of which
vas purchased from the government.
After October began there was less
incentive to protect customers, az ths
customers contracts had been filed.
Also, the expected European demand
rad not materlalzed on a large scale,
CT, rather could not be filled, due to
the international credit situa ton. Con
sequenty the producers decided to
meet the market
Thus far. after nearly a week, do
nestle demand for copper has not been
stimulated to any extent, although
some wire and brass mills have been
inqulrng for copper for delivery the
remainder of the year. In line with
tne REDUCTION in the price of copper.
Drass mills reduced their quotations ]
cent pound on sheet, wire and rods
and cents pound on seamless tub.
ing. Some further export business has
neen done IN copper Japan has been
IN the market and also certain Euro
pean countries.
The American Smelling & Refining
Company during the week advanced its
iead Price = cent a pound, 10 675
cents New York. $50 cents East 81
Louis. Consumers have been inou;ring
actively for lead while supplies ap-
peared insufficient 20 meet demand
The output OF lead has been much cur
tailed By labor trouble in the Idaho
district. while the strike at the Fed
eral smelters at Alton is proving seri-
Gus. Outside sellers had been asking
premium Of = cent pound over the
leading interests before the advance,
and after the last advance continued 10
ask and obtain a premium of TO 10
points.
Export Demand for Zinc
Export inquiry for zinc has been ae-
tive England, France and Japan all
being buyers. 1t is estimated more
than 1000 tons OF high grade spelter
and scvera! thousand tons OF prime
western have sold for export on the
present movement. Domestic demand
has been light neither galvanizers nor
brass mills showing much interest The
output Of zinc has been further af-
fected by labor troubles at certain
plants, the Donora works of the United
States Steel Corporation. plant at
Terre Haute and a smelter al Peru.
H.. being reported closed by strikes.
Prime western zinc advanced 10 Tso
cents, East ST. Louis. during the week
The antimony market strengthened
Importers sold small lots at e.S71a
certs. duty paid. New York, wholesale
lots at S.75 cents. 1t was pointed out
that with the increased cost of silver
the cost of importing antimony Is
around 13 cents a pound.