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Show EUROPE NOW BUYING COPPER ID SPELTER Should Orders for Foreign Account Continue Producers Pro-ducers Predict Raise. Substantial buying of copper and lead for export account has been the feature fea-ture of the metal market recently. Spelter Spel-ter also was In good demand for foreign account. Eighteen cents a pound was the basis on which the copper business was done. On export sales as high as 188 cents, .London, for electrolytic was paid, but the net price to producers was practically prac-tically the same as that on which domestic do-mestic bookings were made, says the Boston News Bureau. Although there was some good business done for home account during the week, producers were, to some extent, puzzled because the volume was not greater. Should the European buying continue in as large volume as during the past week, higher prices will have to be paid on belated domestic orders, according to predictions pre-dictions of some of the largest producers. pro-ducers. So urgent has been the call for nearby near-by copper that difficulty has been encountered en-countered In meeting the demand by some of the producing interests for product to be delivered during the next three months. Whatever accumulation was stored up at refinery points will have been materially lessened when the shipments ship-ments of near-by copper begin. Engla.nd and France have been buyers of the metal, as neither country had been In the market for some time. The continued con-tinued falling off In stocks of copper in British and French warehouses has been telling the story In the past few months. Practically all of the copper now remaining remain-ing in English warehouses is "standard," which can be refined only under great difficulties. Coincident with the big call for copper cop-per has been an Improvement in the demand de-mand for lead, and big sales, chiefly for export account, have been made. The American Smelting & Refining company's price of 4j cents a pound proved an attraction at-traction for buyers, and big business has followed. Toward the close of the week export business was done on a basis to net slightly better than 4)j cents. In addition ad-dition to sales made, the Boston News Bureau learns that negotiations have been entered Into for very large quantities quanti-ties of lead to be shipped abroad. The ?inc producers have practically sold themselves out for near-by delivery. deliv-ery. Export requirements have come to the aid of this metal as in copper and lead. In addition, to which producers feel confident that the domestic consumers have not yet filled their requirements. An Important factor In the pressure for export metal has been the approach of the season when the northern ports of Europe will be closed. This accounts very largely for the urgency of near-by delivery. It Is understood that shipments of metals as well as war munitions to Archangel have practically ceased and future consignments for the most part to Russia will be made to Vladivostok, in Siberia. Rates to the latter port range about 30 per cent over those to Archangel. |