Douglas daily dispatch., 1927-11-08
DOUGLAS DAILY DISPATCH TUESDAY MORNING. NOVEMBER 1927

4 u lCo.
The lead producers are consistently
refusing to go below 6.25 for that
metal, although bargain lots have
been available occasionally at lower
flgure. The market is quiet, although
sales are reported as good. Produc
ton and consumption are well bal
anced and the statistics do not indi-
cate any decrease in production.
The lead production totals for Sep
tember for the principal countries of
the world showed $500 tons, or
daily rate of 4488 tons, as against
daily rate of 1880 tons during August
and an average daily rate for the
year SO far of 1922 tons. There has
been no material change in the rela-
| tive position of the lead producing
countries except a decrease in United
States production.
1t has not been a buying wave that
caused the price of copper to advance
an eighth cent, but rather a condi-
ton coming from the several buying
waves of the past month, accompa-
MED by the lessened surplus and the
| decreased production. There is prob
ably a little metal available yet at
the Is Ia price, but the producers
generally are asking 13 3-8 with con-
| fidence that that price will be paid.
| An interesting turn of the copper
market is to be found in the newly
organized General Gable corporation
a merger of about half of the cable
producing plants of the United States.
1t is doubtful if this will mean any
thing directly in copper and brass
on Y0tinT0 hI1t If orQot1U
the marketing and distributing facil-
, tiles of the companies involved and
it also pools great amount OF re-
search work which will undoubtedly
increase copper uses later
Reports from Europe show that the
metal working plants of Great Brit
ain are buster than they have been
for some time and that the German
plants are practically up to capacity
production. France is not good as
yet, but confidence is returning and
general better business conditions are
seen ahead. The French government
/ is stated to be impressing upon the
railways, the Importance of complete
electrification job which will use
a large quantity of metal for the
next 10 years.
Stocks of copper in British ware
houses are continuing to shrink. Dur
ing September decreases were 457
tons in refined and 2497 tons in
rough, total of 1854 tons. These
decreases bring the stocks in official
British warehouses down to 1859
tons (2119 refined and 15,540 rough),
a. reduction of nearly so per cent
from the 1896 tons which were in
warehouses at the beginning OF the
year. At Havre, France, stocks de-
creased 383 metric tons during Sep
tember now standing at 1720, against
$3.50 metric tons on January /. Ger
man stocks of copper are estimated
to have increased from 1890 to
13, 100 during September. Imports OF
copper into Germany of nearly $4,000
tons in August established new
high record.
Exports of copper from the United
States to the United Kingdom and
France made notable increase dur
ing the third quarter of this year.
Total shipments to France for that
period amounted to 20,956 tons, and
compare with 14,068 tons in the sec
ond quarter of 1927. Shipments to
the United Kingdom for the third
quarter of this year were 31,986
tons, against 24,548 tons in the sec
ond quarter.
Our exports of copper for the first
nine months of 1927 to Germany,
Great Britain, Holland and Belgium
all show heavy increase over the
same period in 1926 The betterment !
of foreign demand is one of the OUT
standing features of the copper stu
ation..
The prospects for the metals in
dicate a continuing strength for cop
per with a slow price movement and
each eighth cent gain to hold long
enough to well establish it, no reason
for any change in the lead situation
and weak zinc market.