New-York tribune., 1919-08-10
Copper and Zinc .
Stocks Unioafied
By Spectators
Metal in Second Hands
Offered at Lower Prices
Than Named by Produc-
ers; Americans After Tin


copper. lead and zinc held in second
hands. While producers of these met
ais did not change their quotar ons,
spectators and dealers who had &C.
cumulated supplies On the previous
rising market became rehensivs
over the economic situation throughout
the country, and lowered their prices
as an inducement to urge buying. This
was especially marked with transac-
tons in copper and zine Producers.
encouraged by the favorable statistical
position OF the market, maintained
their firm prices. although making few
sales.
Sales Larger in July
The situation is summarized by the
Daily Iron Trade and Metal Market
Report" as follows:
'Producers continued to quote 23.50c
for spot, August and September de-
livery electrolytic copper all week.
VIII lie asking &c for October. But out
! side sellers dropped from 23c for spot
on Monday to below 21.75c by Friday.
"The sales of copper during Jul =
compared with oo,0o0 Oo0 in June and
207 100000 in May. Production during
the same month probably did not ex-
ceed $50, 600. 600 pounds. W tn condi-
tions like this the stocks of refined
copper in the hands of producers,
which caused so much anxiety early
in the year. will not last overlong.
"These stocks were estimated at
about 100000, 600 pounds AS of Janu-
ary l. At that time, however, it was
believed foreign demand would be suf-
tlclent to remove them from the mar
ket during the year. German demand
flnaily has begun to show itself sale
OF 1000 tons having been closed
through the Copper Export Assoc ia5ion.
Other sales of copper through the as
soclatlon thus far this year are esti-
mated at about l0o, o,ooo, ,00o pounds,
which IS exclusive Of sales by smaller
producers to Japan and other countries
| The London market weakened this
week, especially on standard copper,
e.ectrolytc holding little better. be-
ing more controlled by the American
producers.
Sales Of copper are being curtailed
oy the labor troubles among the brass
manufacturers. Plants at Rome, n y,
are virtually unable 20 operate because
OF the strike OF forei gn born worka,en.
and the Waclark Wire Company. al
Bayway. \. j., is having difficulties with
IT'S worAmen. Troubles al Hasting-on-
Hudson and in New England have been
: largely adjusted. Prices of brass and
I ~NPPSi PiOOUNlS were NNCDdHTeQ due
70 the stationary major copper market.
Zinc fluctuations Wide
The zinc market has Auctuated
wildly the past week. On August prime
western zinc sold at 735 cents. East s.
Louis basis Tor prompt shipment. Is
nad cropped to this level within week
from cents. On August the market
recovered suddenly TO 1852 cents. and
on Monday, August I, sales we're made
at 7.65 cents. But sentimen. again
changed suddenly, prices dropping to
'.4o cents on August and 10 725 cents
on August s. The market seems to Ds
"no!iy IN the hands of the dealers at
present.
SO far as known, no producer was
Wiling to meet the low prices mads bv
dealers on resale tonnages, the lowest
quotations OF smelters being about
'.ooc' East st. Louis, for prompt ship
ment from the West. Government
stocks Of zine are small, amounting TO
$4,000 tons on August l. Smelling is
much curtailed. The Anaconda Copper
Mining Company recently closed its
electroiytlc zinc works at Great Falls.
Mont. The two smelters Of the Gras
sell Chemical Company. at Terrs
liaule. Ind, have been closed for
month by a strike. Other large SIN at
ers are operating about so per cent.
the zine market WAS reported this
week. Zine ore prices dropped below
500, Which probably viii tend to reduce
production if prolonged.
Lead Holds Fairly STEADY
Lead showed little change Buying
was light. but producers did not change
their prices. The leading producer
quoted &c New York 575c East St.
Louis, and independent producers
quoted the same figures. Outside sell
ers who wanted TO take profits offered
lead for prompt shipment al 5.75c New
York. but as high 5.7oc East 81.
Louis was paid in the outside market.
The lead market is probably
stronger s.atisticaily than the other
markets. The stocks of refined lead N
this country held by the producers and
by the government are about 1900
tons, or about two weeks suQpiies as
against normal supply for about six
weeks. Second hands have not over
few thousand tons al the most. and
chen these are absorbed 1t IS believed
the upward trend of the lead market
will be resumed.
Easier Market for Tin
Tin eased off little during the
week, both here and in London. The
supply Of spot tin in England has been
greatly reduced by Anne erican purchases,
which were stimulated by the desire
for earlier deliveries after the lifting
OF the embargoes than could be had
for direct shipment from Singapore.
Accordingly. spot tin held fairly firm
in London, but futures declined about
IS, Straits tin, due to arrive here in
early October, was offered this week at
54.50c to 54.75 c, {. J. T. New York, while
August shipment was offered Ak iAc
lower and September at l4c pound
below August Some Straits. tin was
bought for shipment from Canada after
August Is at 57.25c. The first cargo Of
English Lamb G. Flagg tin 20 arrive
after the lifting OF the embargo on his
grade August J vas largely sod, out
little resale was offered i. 55.50c.
"Antimony dropped 81 little RI Of
ferings by dealers, who quoted down TO
s.l21a, duty paid, for spot The market
IN the Orient continued high. quota
tions of 9oOc, c. i. +. New York duty
paid. being cabled from Shanghai"