Douglas daily dispatch., 1927-10-14
Weekly Copper ReUieU
BY CHARLES F. WILLIS
Editor The Mining JOurnaD

dull ana nara TO sell curing the past
week The prices have dropped a
little with copper going to 13 1-8 to
49, IA with some sales reported at
13, lead to 625 and zinc to 605
The fact that such a large pro-
portion of the lead production is
marketed through the American
Smelling and Refining company is
holding that metal more steady and,
while this company is disposed to
quickly turn over their copper, they
are inclined to hold their lead Lon
don prices on lead are away off, and
the lowest since 1922.
Germany and England have shown
a considerable advance in their net
imports of lead. Germany has aver
aged 10,520 tons monthly this year as
against 6340 tons last year, and Eng
land has been taking 23,l96 tons
monthly in 1897 whereas they took
81 ,O6O tons during 1925. Although
France and Italy are comparatively
small importers of lead, they have
both dropped off somewhat during
1927
The zinc situation is particularly
weak, with sales smaller than at any
time during the past six months. The
fact is that the stocks Of zinc have
been going upwards and the con-
sumers are looking forward to
lower market. This feeling is not in
evidence among the producers as spot
only is being sold at present prices
and futures are commanding a little
I higher rate.
Zinc production in the world is still
] too large. There was 117,858 tons
produced in the world during August
which is an increase over July The
average monthly production of zinc
from the principal countries OF the
world for 1927 is 1l8,055 tons and this
is considerable jump over the aver
age monthly production for 1926
when the figure stood at 110,891 tons.
This is a still greater difference when
! the poorer industrial conditions OF
this year are appreciated.
Stocks of slab zinc September Is
were 36,114 short tons against 34,587
1 tons at beginning of month, increase
| Of 1927 tons, according to the Ameri-
can Zinc institute. Production in
first half of September was 24,044
short tons and shipments were 22,507
tons. Of latter, 21,145 tons were do
mestic and 1872 2stons were exports.
France has taken. quite drop in
it's zinc imports, the average for the
first seven months of the year being
1864 metric tons as against q 1922
ton average for 1926. Great Britain,
which is the largest zinc importer,
has also fallen off slightly, taking
11,O86 tons as against 11,840 tons. On
the other hand, Germany is taking
/ 1903 tons a month this year as
against 6288 tons monthly during
1926.
The copper market has followed its
general line, dull period following
active sales and the good market OF a
Itcouple of weeks ago+has had its reac-
ton during the past 10 days, during
which period there has been COM
paratively little buying. This condi-
ton has been true of foreign buying
as well as domestic.
The producers do not seem to be
concerned over the inactivity in sales
and are doing nothing to stimulate
buying. They are holding out in
most cases for Is Ia cents and the
quantities that are changing hands at
the Is 1-8 and 13 are small The
only copper being moved is from the
few producers who maintain the poll
icy of Immediately dispoSing of their
product irrespective of price.
There has been healthy increase
in exports of copper from the United
States to European countries during
the first eight months, totaling about
"a per cent and even this does not
reflect the full growth OF European
: consumption as the stocks of copper
in Great Britain, France and other
countries have been greatly depleted.
There is probably $4,000 tons less
copper in Europe than in the berin-
ming of the year. There are. some
clouds showing up in Germany, how
ever in the form of labor troubles
Germany has been taking 1921
, tons of copper monthly this year as
against 10,100 tons monthly last year.
Great Britain has averaged 9672 tons
monthly in 1927 as against 1927 in
1926 France and Italy have dropped
off somewhat, taking 6211 tons and
5082 tons, respectively, as against
9796 tons and 5595 tons last year.
Taken as whole, the European
consumption of the nonferrouS metals
is decidedly improving and the con-
ditions today as we'll as the outlook
indicate still greaJer Improvement
than we have experienced this year.
The growth of cooperative market-
ing of the metals has been marked
and Europe encourages this move
ment although the individual con-
surners have been bucking its growth.
However, it is now an established
method in European countries and its
benefits are largely ahead.
In all of the metals it is generally
felt that the consumers have very
small stocks and are buying their day
to day requirements. This condition
brings them into the market fre-
quently for small amounts and the
consumers feel that there is no par
ticular danger of any shortage or an
inability to get what they need. This