Douglas daily dispatch., 1926-03-02
Weekly Copper Review
(By Charles f.. Willis, Editor The,
Mining JOurnal).

Mining JOurnaD.
Much of the copper being sold at
the present time is for March and
April delivery and there is very lit
tie temptation on the part of the pro-
ducers to shade prices or give any
concessions. The price is remaining
strong at IA Ia. This is in spite
of slightly increased surplus stock,
slower domestic buying and fall
ing off of European trade.
The strength of the copper market
is based largely upon the condition
of the Industries using copper and
upon the prospective benefits of the
new copper export association. The
brass companies report their busi-
ness to be even better tha Mast
year. One of the largest companies,
for example, reports a very substan-
tial increase in January business over
that for January, 1925, and two other
companies report their untitled orders
as the highest in years. Wire and
cable manufacturers are also active
so producers have grounds for their
firm attitude regarding price in spite
of temporary Iull in demand.
Negotiations are still progressing
copper export association, and no
with regard to formation of the new
definite announcement thereon as yet
can be made. The sizable inquiry
for the metal which has existed
practically since first indications that
new copper export association was
in the making is evidence of how i'm
portant a measure for price control
consumers regard this new combine of
the producers.
! All in all, it appears probable that
volume buying of the metal will
again make it's appearance during
the next few weeks, the extent of
the demand, of course depending
in the way of Improvement of the
French fiscal situation. 1t can be
stated, however, that ofreign market
for the metal is being better stabil-
| lied now than at any time over the
| past several months
There is no question but what the
producers have been disappointed over
the falling off of foreign shipments
during the past several months, which
has continued into January of this
year. January exports amounted to
but 1854 tons as against a total of
! 42,9996 tons in. December The av-
erage during the third quarter of last
year was 46,779 tons and the second
quarter average was 5000 tons. The
average monthly shipments for last
! year were 48.713 tons in spite 70 the
| low average of the last few months.
! The growth of copper usage in the
United States and abroad is a mat
ter of much interest to the pro-
| ducers of the country, according to
Stephen Birch, president of the Ken
necott Copper corporation: prior 20
1913 the United States used about
! one-third of the total production of
the United States copper refineries,
| European countries taking the remain
der of the production, but the fig
ures have been almost reversed in
| the last II years, the United States
using So per cent and Europe taking
only AZ per cent" Birch stated that
his figures included only copper re-
fined in the United States, which in
cludes practically all of the produc-
tion of North and South America, and
only very small portion of African
| copper.
! The consumption of copper in the
United States is actually 10 per cent
| greater than in 1913" continued
i Birch, while the European consump-
tion has increased about 25 per cent
And another noteworthy fact is that
Germany used about 10 per cent of
| the United States production last
year, more than France and England
combined"