The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-12-29
No Large Stocks of
Metal at Home
or Abroad
SUPPLY AND DEM AND
Strong European Demand
and Its Effect on Ameri-
can Metal Prices
FAD is the great staple product

n EAD IS the great staple product
of the Occur d'Alene district and
necessarily the varying changes
in the price of the metal and the
influences at home and abroad which
have brought them about and which
may be expected to affect the future
market are matters of first import
ance to the people of this district 1t
is for this reason that the Miner pre-
sents a study of the lead market by
the editor of the Engineering and Min
ing Journal which appeared in the
issue of December "a. 1t presents a
most encouraging outlook for the com
ing year, and is deserving of careful
reading The article follows:
Little Fluetuaton in Price of Lead
Ever since September %. when the
market reached 4.7Oc per H., New York.
lead price changes have been small
and relatively unimportant. Although
sales have been made periodically
with more than customary briskness,
the market has refused to move far,
either up or down. Lead in it's present
position can hardly be thought of as a
plaything for the speculative metal
dealer Its price changes on short
swings of the market have afforded
the Spectator, who fortunately is a
minor factor in the lead market but
little opportunity to exercise his pro-
clivities.
. AT 47Oc per ID. lead consumers
seem to be able to purchase all the
metal they require and producers will
ing to sell in any quantity For a
time in November it appeared that
lead would reach higher levels by the
end of the year, but the market has
been unable to break away from the
fascination of 4.7Oc The reduction in
freight rates from Missouri points to
New York has made it possible for
lead from the middle west to compete
in the New York market and has
helped to keep the eastern price where
it is
Good Possibility of Exporting Domes-
tic Lead.
Although export trade is unimport-
ant in the American lead market,
prices in the United States are greatly
affected by those abroad, particularly
the prices of the London metal market
American lead producers have up to
now been concerned more over the
possibilities of importing foreign lead
into the United States and disturbing
he domestic market than upon the
prospect of exporting part of domestic
production.
Early in 1921 large quantities of
spanish lead came into the United
states owing to the higher market
evel here. but at present, owing to
stronger and higher market in Eu-
ope there is a possibility of shipping
american lead abroad. International
movements narrow down to a question
v which market will yield the greatest
rofit to the producer. When the de-
land for lead is poor in Europe, lead,
specially. cheaply produced Mexican
ead is imported into the United States
nd sold in competition with American
letal after payment of duty. Con-
ersely, if a better market exists
broad Mexican metal seeks the Euro
can market where the duty charge is
OF so important
THE heavy shipments of Spanish
.ad to the United States last spring
ssulted in greatly disturbing the do
lestic market imported lead making
self Immediately felt in the New York
larket reducing prices in the east to
level with those of the middle west,
nd stimulating lead producers in their
ght for a tariff AS importations of
,reign lead are at this time unim-
ortant, the full freight differential is
cling expressed between st. Louis and
ew York markets. which as it should
our Countries Yield Bulk of Worlds
Lead.
THE four countries that are most
aportant from a producing standpoint
the worlds lead market are the
nited States. Spain Australia, and
exico. From a consuming standpoint
e United States Germany, France
Id Great Britain are the principal fac
rs. The United States is producing
lough lead for its own requirements
Id is Independent of outside supplies
he consumption of lead has been so
lConfiouad on ma oa 81