Douglas daily dispatch., 1927-11-13
Weekly Copper ReUieO
BY CHARLES F. WILLIS
Editor The Mining Journal

Copper has again advanced in price
and now stands at 13 1-3 cents and
is firm at that price. Lead and zinc
have had no change, standing at
625 and SIS, respectively, with ia
steady market on lead and weak
market on zinc.
While the consumption OF lead is
very good in both the United States
and abroad, the failure OF the sta
tistics to show any curtailment OF
production is responsible for the con.
tinued low price. There has been
much talk of curtailment of lead
production but the September figures
showed a daily rate of production OF
4,488 tons as against 4,38O tons per
day in August and 1850 tons daily
in July. Thus the consumers are
not anxious to run into the market
to protect their requirements and the
demand for lead for other than i'm
mediate delivery is practically nil.
Zinc seems to be in peculiar
situation in that the very low price
for metal which is existing now is
not offering any great attraction Tor
purchasers. There seems to be wide
difference of opinion as to what the
present market condition signifies,
some taking the view that they can
buy zinc as cheap or cheaper any
time they feel like coming into the
market while others feel that the
present price is too low and but
temporary and they are buying Tor
future delivery.
1t is certain with zinc that there
is plenty being mined and that the
only remedy for the present situation
is a smaller production and there
appears to be no immediate hope for
that. Reports from the Joplin district
show a drop in price for the ore
that is serious and which practically
eliminates any profit in many OF
the mines
Zinc has, in the past, seemed to be
self-regulating metal insofar as
production is concerned. Wnen the
price dropped those mines which
could make no profit automatically
stopped production. Then with the,
curtailed production the price would
shortly adva1ce and the high cost
producers would resume operations.
This is not working out so well, as
the mines are still maintaining pro.
duction in spite of the market weak.
ness.
The rise in the price OF coppe'
has been no surprise and it has not
been heralded with headlines as it
has been expected. The statistical
position of the metal is exceptionally
good and the trend during the past
several months has been such as to
expect price increase. Copper stood
for about a week at the 13 IA to
3-8 mark and this perio0 showed
good sales for both foreign and
domestic account. AS was natural,
the increase in price to 13 IL has
slowed up the sales.
This does not seem to give the
producer much concern as the large
sales which were made were about
two thirds for November delivery and
one third for December delivery and
it is evident that there is still quite
a quantity of November copper yet
to be contracted for and a large
quantity to be bought for December
in order to cover the required
amount for manufacturing.
Copper consumption during the
third quarter of 1927 was off ma
terially from the figures for the
same period of 1926 on the principal
industries using that metal. During
the third quarter of 1927 the electrical
industry took $4,000 tons as against
$4,000 tons for the same period of
1926, the automobile industry 2460O
tons as against 28,900 tons and the
construction industry 12,80O tons as
against 1860 tons. The figures right
through 1927 have been lower, the
break coming in the fourth quarter
of 1926.
The foreign price Of copper is now
1870, having been advanced 10 points
and the sales on foreign account have
been exceptionally good. The sales