Evening star., 1932-09-10
.UPTREND IN METAL
MARKET IS STEADY
Copper, Lead, Tin and Steel
Quotations Continue
Advances.
Special Dispatch to The star.

Special D1SpHtCn W nc OtAE.
NEW YORK, September 1o.-The eff
fects of rust and wear and tear going
on these three years. during which
ments or additions to plants, are now
being reflected In such basic comrnodi-
ties as metals and paints.
In this city they are talking about
7-cent copper. Accent lead, 2s-cent tin
and higher prices for steel and iron,
as steel scrap continues upward. Prices
Of paint materials are maintaining their
recent advances, thanks to the great
spaces Of rust and weather-worn plants
and homes that have been accumulat-
ing since 1929.
Foreign buying OF copper has been
responsible for the recent rise in do
mestic quotations. This rise In copper
caused another rnark-up in wire, but
fabricators said that most Of their pres
ent production is the result of shipr ug
specifications on orders booked so-le
time ago rather than new business.
Follow European Prices.
With the American producer out of
contact with European selling outlets,
owing to the virtual dissolution of the
Coppers Exporters, 1nc.-as most of the
important foreign members withdrew
when the United States placed an i'm
port tax Of cents pound on copper
domestic handlers of the metal have
had to follow European price revisions.
There are those in the trade who in
sist that general demand for copper
makes cents pound difficult of reali-
zation, but Americans always buy the
metal, like many other articles, on a
rising market.
Copper even at cents here would
have little difficulty, so far as the
United States market Is concerned. in
competing with South African metal
some OF which Is being produced profit
ably around 4 cents o pound. American
copper would need the protection of the
scent import duty, for there are not
many mines In this country that can
profitably produce the metal at 8 cents.
Lead demand Is broadening out to in
clude the paint trade, cable makers and
others and It's present rate Of produc-
ton. along with stocks. makes further
price advances probable. 1t has been
well taken at $50 cents a pound. Lead
oxides are maintaining recent upward
revisions.
Higher copper quotations along with
expanding steel operations are en-
couraging zinc producers, for zinc has
been resting around $40 cents a pound,
with demand rather light at that level.
Nevertheless its use as q coating ma
terial and the firmness of zinc oxides
indicates continued price steadiness.
Tin prices in late trading Wednesday
reached q new high for the year at 25%
cents pound for spot straits. Although
domestic consumers have shown no
tendency to bid for the metal, its pros
poets are Frightening as widening steel
operations will include higher rate of
tin plate manufacture. Plans to in
crease automotive production should
also prove beneficial to the metal.
Steel Scrap Higher.
Steel scrap continues to point up
ward, so veteran steel men say, an up
turn In general steel quotations. Sheet
makers today generally reafirmed third
quarter quotations for the next quar-
ter. This is, in effect, price advance
II, unlike in the third quarter, list
prices are not shaded.
The advertising campaigns launched
by some of the leading paint manufac-
ttirers already are beginning to show
in increased sales, but since these pro-
gressive elements Of the trade long ago
bought their materials, when prices
were low, demand from such sources
continues light. Makers Of dry colors
have noted better inquiry.
(Copyright, 1s32)