Douglas daily dispatch., 1927-07-06
alas Daily Dispatch Classified and Leua| Page

May did not show any material
change from recent months, totaling
121 ,438 tons in the 31-day month as
against 116,44O tons in the 3O-day
month of April. The production for
the United States decreased during
the month from 1,720 tons daily in
April to 1854 tons daily, but Belgium
and Polish Silesia, the other large
producing countries, increased their
production.
The world zinc production during
the first five months of 1927 is aver
aging 1881 tons monthly, whereas
the monthly average during 1926 was
but 11O,891 tons Every month OF this
year. even including the 28-day month
of February, has exceeded the aver
age of last year.. The total production
during the first five months was
594,453 tons, while the production
during the same period of 1926 was
559,031 tons.
The world stocks of zinc on June
totaled 57,100 metric tons, as against
$500 tons on May 1, a reduction OF
stocks of about 1,40O tons. This Is
the first reduction of stocks in sew
eral months as the surplus has been
steadily increasing since January /,
1925, when it stood at 26,130 tons.
A. j. M. Sharpe, honorary secre-
tary of the American Zinc Institute,
states, regarding the zinc situation:
"While Europe is producing slab
zinc on higher scale than since
1914, consumption also has gained and
is today taking care of not only
European output, but also high grade
zinc imported from North America
and Australia. This high grade is
particularly favored by the brass
trade. It is considered unlikely that
European output of common zinc
will be further advanced until there
is another lift upwards in consump-
tion"
An optimistic statement regarding
lead and zinc is credited to j. F.
Callbreath, secretary of the American
Mining congress, made during re-
cent interview in Denver. He is
quoted as saying that, on account of
the growing. demand for lead that
10 cents pound or better is not far
off and that zinc will be within two
cents of the lead price.
While the sales of copper are gen.
orally scattered over the next three
months for delivery and seldom be-
yond three months, there has been
one sale deported for November de-
livery at 1919 cents, a sign that the
present low price is expected, by at
CA b.
that time. Copper sales are slow and
without interest.
1t is natural to expect the copper
market to be very much at a stand
still as the producers do not feel that
they should sell at the present low
price and hence are not hard after
sales, while the fabricators see plenty
Of copper available and do not feel
that there is any need of trying to
find some one from whom to buy
The fabricators see that more copper
is being produced than is being sold
SO they cannot be convinced that the
bottom of the market has been
reached.
A large amount of copper war
stocks in France are to be thrown on
the market, according to a recent
Paris dispatch, which states that the
French government has authorized the
sale during the next two or three
years of their remaining stock, which
is variously estimated from 10000 to
10000 tons. This is not figured to
have very serious effect upon the
copper market as France is already
started to Use a great deal of copper
This amount of copper can, however,
be effectively used in keeping down
the price, depending upon the manner
III which it is thrown onto the mar
ket
Relative to the copper situation,
George NeWett, director of the
Calumet and Arizona Mining COM
pany, states:
with copper metal selling for
only 121s cents per pound and with
stocks on hand larger than at any
time since the early part of 1925,
some of the producers are consider
ing reduction, but the majority con-
tinue to turn out red metal faster
than it can be absorbed in the mar
ket.
"Just at present the demand from
abroad and from domestic consumers
is light, but there are always quiet
periods when buying is light. There
is no denying the fact, however, that
the stocks on hand have been in
creasing steadily since last fell, with
the exception of the month of April
''There will have to be more regu-
lation or far greater demand than
at present if the price is going to
show any appreciable advance. No
increase in demand is looked for just
at present as building operations have
been falling off of late and the de-
mand for automobiles is not so strong
as at this time a year ago. The
sensible thing to do is to curtail a
trifle until the producers are able
to obtain fair price for copper"