Douglas daily dispatch., 1926-07-04
Weekly Copper ReUiew
BY CHARLES F. WILLIS,
Editor the Mining Journal.

Editor the Mining Journal
! Copper still stays firm at the accent
mark and shows no particular tend
ency to move up or down. 1t did not
react downwards in the general busi-
ness depression of few weeks ago
while practically all other commodities
did move downward
lin otherwise, with the continuation
of the policy of the copper producers,
their production to the consumption of
the metal, the price and demand for
copper is stabilized and the objective
towards which the producers have
worked has been accomplished.
The stabilization process has, of
course, been greatly aided by the ex-
cellent statistical position of the mtal
and the fact that the copper industry
at the peak of the war-t time rush.
A review of the statistics on the
metal show tha all records are held by
war years when production and con-
sumption were at forced draft and un-
der unlimited credit conditions. 1t al
so shows that copper is practically
back to the record points in everything
except price and it is doubtful if any
thing more can be expected in price
until such time as the mines are able
to produce and sell their copper up to
their capacity production.
Moreover, it is not necessary for the
producers to get war; time prices for
there has been most remarkable prog
ress in the past few years in lowering
costs and in gettingg deficiency of op-
erations and many mines are making
good money at IA scents copper who
were never able to do SO a few years
ago.
The world production of copper hit
it's peak in 1917 when 1886, 4O5 tons
were produced, yet during 1925 the
, production was within $4,000 tons of
327,2OS TONS WhenA7it is considered
that but 1900 tons of copper went into
munitions during 1926, %he gain of the
past few years is obv1ous
The high mark on United States cop
per production was irf 1916, when such
large quantities were Furnished the AL
lied countries. The United States pro-
duction that year was 96S,925 tons,
while in 1925 it was S46 500 tons, and
it is greater now than during last year.
Copper exports also reached their
high point in 1917, totaling 493, 1856
tons, and even with the poor condi-
tions existing during this las year in
Europe, the industrial depression of
Germany, the lack of finances, the de-
cline of the franc, the debt settlement,
etc, 4S1, ,404 tons of copper went abroad,
almost the record mark of all times.
Yet, we know the European countries
are hungry for the metal.
Likewise the consumption of copper
in the United States ha scome up close
to the record point. The record cop
per consumption in the United States
for all time was in 1918, when the
American manufacturers used O,S35
tons, yet this figure bids fair to be
passed soon with peace time industrial
needs, as 1925 saw a consumption Of
S42,500 tons of copper in the United
States.
The 1918 figure of consumption is
somewhat misleading, as the manufac-
turers were buying ahead of future
needs at that time and much of this
copper contributed to the enormous
surplus after the war while the con-
sumers are now buying only their ac-
tual needs today
The high point in surplus copper was
in 1921 when the excess war copper
came back into stock and then we had
$4,000 tons of copper on hand ready
to be fabricated. yet today, in spite of
enormous production, the surplus isl
around 10000 tons, or less than three
weeks supply.
When we hear it repeated so fire.