Douglas daily dispatch., 1927-04-13
MINING NEWS NOTES
By CHARLES #. WILLIS
Editor The Mining journal

+Ihe metal market remains qulet
and uninteresting, with copper stick
ing to 13, lead dropping to a price
lower than the bottom of the last
decline, 1925, and zinc remaining at
$50. Silver has strengthened a
little to 81 IA.
The lead market is distinctly a
buyers market, with the producers
competing for business, and this has
probably been the cause of the de-
cline to the present low price. Zinc
, also finds the producers out after the
business, with an inclination to cut
prices in order to get it.
1t is generally expected that, when
the total for March sales of copper
are made public, they will show
to be very low, probably lower than
we have had for many months. This
was, of course, the natural reaction
from the heavy buying of February,
which was distributed for delivery
over a several months period.
The lull of copper buying, how
ever, is expected to bring the buyers
! into the market in April in goodly
numbers, and the producers are not
making any attempt to force their
copper on to the market. While
the price has remained around 13,
there is not much copper reported
sold at that figure, mostly small
amounts, and the turning over of
the stocks of custom smelters.
While domestic sales of copper will
show low for March, there should
be an Improvement in the figures
for foreign buying. The Copper
Exporters, Inc, have cut the price
an eighth and it now stands at
13 1-2, and this has attracted
European purchasers.
The industrial situation in European
countries during 1926 is reflected into
it's metal takings during that year
as compared with 1926 and 1924,
and the showing, in a general way,
is not as bad as might be expected
in view of what happened on the
other side of the Atlantic.
Great Britain went through many
months of a coal strike during 1926,
which largely paralyzed the industries
of that country. This was more
directly reflected into the amount
of copper imported than in any Of
the other metals, for Great Britain
took but 8,527 tons of copper per
month, as against 1925 tons monthly
during 1926 and 1O,162 tons monthly
during 1924,
In spite of a paralyzed industry,
Great Britain took 21,06O tons of
lead monthly during 1925, as against
20,913 tons monthly in 1925 and
1880 tons monthly during 1924.
Zinc likewise increased, as 11,S40
tons monthly were taken during 1925.
1889 tons monthly during 1925 and
9,346 tons monthly during 1924. This
/ condition probably shows greater
potential increase in the lead and
zinc needed for 1927 than we can
| anticipate for copper.
| Germany had it's big industrial year
| in 1925, when they took 16,O86 tons
monthly of copper, 10,201 tons monthly
/ of lead and 6,925 tons monthly OF
zinc. This year was the occasion
! for starting heavily into manufacture
ing under the Dawes reparations plan'
/ and Germany started out on an in
| dustrial pace that could not be main
| tanned.
| The result was that Germany took
considerable drop in its takings
of metal during 1926 and used 1O,1OO
/, tons monthly of copper, 6,340 tons
monthly of lead and 6,2SS tons month
lly of zinc. All of these figures are
! material Improvement over 1924
when S,059 tons monthly of copper
were taken, 1924 tons monthly OF
| lead and 1923 tons monthly of zinc.
! The analysis of the German situation
| shows the 1926 figures to be more
| in line than the abnormally large
purchases of 1925 and that We may
expect an increase in 1927 in line
! with 1925 and 1924 advances.
| France had it's best year in 1924
for during 1925 there was so much
| squabble over debt settlements ano
! political strife that the confidence
necessary to do satisfactory business
was lacking. In 1924 France took
| 11,281 tons of copper monthly, 7OS0
tons of lead monthly and 4,S46 tons
nmM ~ 90 wan :