Douglas daily dispatch., 1926-11-24
Weekly Copper ReUiew
by CHARLES II. WILLIS
Editor. The Mining Journal
nI.oouSv A rswov,a

Phoenix, Arizona
The recent inactivity Of the copper
market is explained largely upon the
publication of tn copper statistics for
October, showing considerable in
! crease in production from the copper
mines of the United States and a de-
crease in domestic consumption, thus
indicating the slowing up of business
in the United States, as has been pre-
dicted.
These changes in production and con-
sumption in the United States have
mot changed totals materially and the
net effect has been the lowering Of the
stocks and refined metal from 70,137
tons at the end of September to16S,2S3
tons at the end of October.
| The increase in United States pro-
duction during October totaled about
IS, 900 tons, but this was offset by, de-
creased production from Europe and
Belgian Congo and the other producing
countries remaining the same, SO that
ths net increase in production was
about 5000 tons thus. making the Oc-
tober world production of copper 142,-
400 tons
/ Domestic consumption of copper de-
to 73,939 tons insOctober a falt Of, some
consequence, but All improved demand
from European countries more than
offset this decrease. Export shipments
of copper totaled 51,0S5 tons in Octo-
ber, as against 41,452 tons in Septem-
ber.
| Thus the total refined copper pro-
/ duction from North and South Amer
lea was 12S,12O tons in October about
the same as the previous month, and
the shipments were 125,O24 tons, as
against 1921 tons in September
One writer explains the apparent un-
Willingness of the copper producers to
get excited or disturbed over the low
prices for copper
"There is nothing in sight which
should at all worry such industries as
have demonstrated their capacity in
meeting competition through progress
i've achievements by way of greater
efficiency, lowering of product costs,
etc. Incidentally, the copper industry
stands out prominently in this re-
spect There can be no disagreement
! over the fact that the mining and
metallurgcal efficiency in the copper
industry has been ceaselessly increas-
ing for decades. Ev
New methods, better machines, i'm
proved adaptations and ripper expert
ence have made new records year by
year. This definitely explains why
every copper company worthy of the
name today is able to make money on
a metal market which. cannot be con-
sdered normal in price. Through the
remarkable progress made in the OPP
Grating departments of the copper in
dustry is has been possible to broaden
the market for the red metal at a low
price. Thus through enlarged output,
helping to lower costs and widen the
margin of profit, it has come to the
point where copper interests. today are
more concerned over the volume of
production which the consumptive de-
mand will allow than the actual price
in the metal. 8 &s
1T is being shown that money can
be made on the present volume of pro-
duction and prices for copper. Only
in the United States has consumption
reached high level With the rest of
the world way below normal and now
beginning to show improvement any
pause or falling off in domestic con-
sumption is likely to be made up by
an increase in foreign demand"
Foreign business is already improv-
ing although it seems definitely fixed
in the minds of European consumers
that there is to be business reaction
of consequence on this side of the
water and that plenty of copper will
be available.
The whole copper situation is work
ing toward stability, both here and
abroad, and production is being care
fully balanced with consumption with
all efforts being aimed towards
greater ultimate consumption Of cop
per.